Document and Entity Information - USD ($) |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2018 |
Mar. 18, 2019 |
Jun. 30, 2018 |
|
| Entity Registrant Name | American Midstream Partners, LP | ||
| Entity Central Index Key | 0001513965 | ||
| Document Type | 10-K | ||
| Document Period End Date | Dec. 31, 2018 | ||
| Amendment Flag | false | ||
| Document Fiscal Year Focus | 2018 | ||
| Document Fiscal Period Focus | FY | ||
| Current Fiscal Year End Date | --12-31 | ||
| Entity Well-known Seasoned Issuer | No | ||
| Entity Voluntary Filers | No | ||
| Entity Current Reporting Status | Yes | ||
| Entity Filer Category | Accelerated Filer | ||
| Entity Public Float | $ 387,019,464 | ||
| Entity Small Business | false | ||
| Entity Emerging Growth Company | false | ||
| Entity Shell Company | false | ||
| Entity Common Stock, Shares Outstanding (in shares) | 54,212,212 | ||
| Series A | |||
| Entity Common Stock, Shares Outstanding (in shares) | 11,342,197 | ||
| Series C | |||
| Entity Common Stock, Shares Outstanding (in shares) | 9,514,330 |
Consolidated Balance Sheets (Parenthetical) - USD ($) shares in Thousands, $ in Thousands |
Dec. 31, 2018 |
Dec. 31, 2017 |
|---|---|---|
| Allowance for doubtful accounts | $ 591 | $ 225 |
| General partners' interest units issued (in shares) | 981 | 965 |
| General partners' interest units outstanding (in shares) | 981 | 965 |
| Limited Partner Common Units | ||
| Limited partners, units issued (in shares) | 54,017 | 52,711 |
| Limited partners, units outstanding (in shares) | 54,017 | 52,711 |
| 3.77% Senior Notes, due 2031 | Senior Notes | ||
| Debt instrument, interest rate (percent) | 3.77% | 3.77% |
| 8.50% Senior Notes, due 2021 | Senior Notes | ||
| Debt instrument, interest rate (percent) | 8.50% | 8.50% |
| 3.97% Trans-Union Secured Senior Notes | Senior Notes | ||
| Debt instrument, interest rate (percent) | 3.97% | 3.97% |
Consolidated Statements of Operations - USD ($) shares in Thousands |
3 Months Ended | 12 Months Ended | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2018 |
Sep. 30, 2018 |
Jun. 30, 2018 |
Mar. 31, 2018 |
Dec. 31, 2017 |
Sep. 30, 2017 |
Jun. 30, 2017 |
Mar. 31, 2017 |
Dec. 31, 2018 |
Dec. 31, 2017 |
Dec. 31, 2016 |
Dec. 31, 2015 |
|
| Revenues: | ||||||||||||
| Revenues | $ 783,016,000 | |||||||||||
| Gains (losses) on commodity derivatives, net | 2,036,000 | $ (119,000) | $ (1,617,000) | |||||||||
| Total revenue | $ 176,962,000 | $ 202,346,000 | $ 220,217,000 | $ 205,829,000 | $ 163,037,000 | $ 162,290,000 | $ 162,030,000 | $ 164,078,000 | 805,354,000 | 651,435,000 | 589,026,000 | |
| Operating expenses: | ||||||||||||
| Cost of sales | 592,040,000 | 457,371,000 | 393,351,000 | |||||||||
| Direct operating expenses | 87,677,000 | 82,256,000 | 71,544,000 | |||||||||
| Corporate expenses | 89,706,000 | 112,058,000 | 89,438,000 | |||||||||
| Termination fee | 17,000,000 | 0 | 0 | |||||||||
| Depreciation, amortization and accretion | 87,171,000 | 103,448,000 | 90,882,000 | |||||||||
| (Gain) loss on sale of assets, net | (95,118,000) | (4,063,000) | 688,000 | |||||||||
| Impairment of long-lived assets and intangible assets | 1,610,000 | 116,609,000 | 697,000 | $ 697,000 | ||||||||
| Impairment of goodwill | 78,000,000 | 0 | 77,961,000 | 2,654,000 | ||||||||
| Total operating expenses | 780,086,000 | 945,640,000 | 649,254,000 | |||||||||
| Operating income (loss) | (21,878,000) | 67,164,000 | (7,641,000) | (12,377,000) | (223,558,000) | (20,616,000) | (25,574,000) | (24,457,000) | 25,268,000 | (294,205,000) | (60,228,000) | |
| Other income (expense), net: | ||||||||||||
| Interest expense, net of capitalized interest | (82,410,000) | (66,465,000) | (21,433,000) | |||||||||
| Other income, net | 560,000 | 36,254,000 | 254,000 | |||||||||
| Earnings in unconsolidated affiliates | 81,929,000 | 63,050,000 | 40,158,000 | |||||||||
| Income (loss) from continuing operations before income taxes | 25,347,000 | (261,366,000) | (41,249,000) | |||||||||
| Income tax expense | (32,995,000) | (1,235,000) | (2,580,000) | |||||||||
| Loss from continuing operations | (14,719,000) | 38,183,000 | (17,274,000) | (13,838,000) | (220,335,000) | 11,806,000 | (25,901,000) | (28,171,000) | (7,648,000) | (262,601,000) | (43,829,000) | |
| Income (loss) from discontinued operations, including gain on sale | 1,910,000 | 44,696,000 | (1,801,000) | (710,000) | 0 | 44,095,000 | (4,715,000) | |||||
| Net loss | (7,648,000) | (218,506,000) | (48,544,000) | |||||||||
| Net income attributable to noncontrolling interests | (33,000) | (25,000) | (13,000) | (45,000) | (1,087,000) | (621,000) | (1,462,000) | (1,303,000) | (116,000) | (4,473,000) | (2,766,000) | |
| Net loss attributable to the Partnership | (14,752,000) | 38,158,000 | (17,287,000) | (13,883,000) | (219,512,000) | 55,881,000 | (29,164,000) | (30,184,000) | (7,764,000) | (222,979,000) | (51,310,000) | |
| General Partner's interest in net loss | (199,000) | 504,000 | (225,000) | (181,000) | (2,883,000) | 697,000 | (375,000) | (420,000) | (101,000) | (2,981,000) | (233,000) | |
| Limited Partners' interest in net loss | $ (14,553,000) | $ 37,654,000 | $ (17,062,000) | $ (13,702,000) | $ (216,629,000) | $ 55,184,000 | $ (28,789,000) | $ (29,764,000) | $ (7,663,000) | $ (219,998,000) | $ (51,077,000) | |
| Basic and diluted: | ||||||||||||
| Loss from continuing operations, basic and diluted (in dollars per share) | $ (0.41) | $ 0.56 | $ (0.48) | $ (0.42) | $ (4.32) | $ 0.05 | $ (0.69) | $ (0.74) | $ (0.75) | $ (5.70) | $ (1.51) | |
| Loss from discontinued operations, basic and diluted (in dollars per share) | 0.03 | 0.86 | (0.03) | (0.01) | 0.00 | 0.85 | (0.09) | |||||
| Net loss, basic and diluted (in dollars per share) | $ (0.41) | $ 0.56 | $ (0.48) | $ (0.42) | $ (4.29) | $ 0.91 | $ (0.72) | $ (0.75) | $ (0.75) | $ (4.85) | $ (1.60) | |
| Weighted average number of common units outstanding: | ||||||||||||
| Basic and diluted (in shares) | 53,136 | 52,043 | 51,176 | |||||||||
| Commodity sales | ||||||||||||
| Revenues: | ||||||||||||
| Revenues | $ 610,042,000 | $ 496,902,000 | $ 439,412,000 | |||||||||
| Services | ||||||||||||
| Revenues: | ||||||||||||
| Revenues | 172,974,000 | |||||||||||
| Total revenue | $ 193,276,000 | $ 154,652,000 | $ 151,231,000 | |||||||||
Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2018 |
Dec. 31, 2017 |
Dec. 31, 2016 |
|
| Statement of Comprehensive Income [Abstract] | |||
| Net loss | $ (7,648) | $ (218,506) | $ (48,544) |
| Unrealized gain (loss) relating to postretirement benefit plan | 4 | 68 | (80) |
| Comprehensive loss | (7,644) | (218,438) | (48,624) |
| Net income (loss) attributable to noncontrolling interests | 116 | 4,473 | 2,766 |
| Comprehensive loss attributable to Partnership | $ (7,760) | $ (222,911) | $ (51,390) |
Consolidated Statements of Cash Flows (Parenthetical) - Senior Notes |
Dec. 31, 2018 |
Mar. 31, 2018 |
Dec. 31, 2017 |
Dec. 28, 2017 |
Dec. 28, 2016 |
Sep. 30, 2016 |
May 10, 2016 |
|---|---|---|---|---|---|---|---|
| 3.77% Senior Notes, due 2031 | |||||||
| Debt instrument, interest rate (percent) | 3.77% | 3.77% | 3.77% | ||||
| 8.50% Senior Notes, due 2021 | |||||||
| Debt instrument, interest rate (percent) | 8.50% | 8.50% | 8.50% | 8.50% | 8.50% | ||
| 3.97% Trans-Union Secured Senior Notes | |||||||
| Debt instrument, interest rate (percent) | 3.97% | 3.97% | 3.97% |
Organization, Basis of Presentation and Summary of Significant Accounting Policies |
12 Months Ended | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2018 | |||||||||||||
| Organization, Consolidation and Presentation of Financial Statements [Abstract] | |||||||||||||
| Organization, Basis of Presentation and Summary of Significant Accounting Policies | Organization, Basis of Presentation and Summary of Significant Accounting Policies Organization General American Midstream Partners, LP and subsidiaries (the “Partnership,” “we,” “us” or “our”) is a growth-oriented Delaware limited partnership that was formed on August 20, 2009 to own, operate, develop and acquire a diversified portfolio of midstream energy assets. The Partnership’s general partner, American Midstream GP, LLC (the “General Partner”), is 77% owned by High Point Infrastructure Partners, LLC (“HPIP”) and 23% indirectly owned by Magnolia Infrastructure Holdings, LLC ("Magnolia"), both of which are affiliates of ArcLight Capital Partners, LLC ("ArcLight"). Our capital accounts consist of notional General Partner units and units representing limited partner interests. Nature of business We provide critical midstream infrastructure that links producers of natural gas, crude oil, NGLs, condensate and specialty chemicals to numerous intermediate and end-use markets. During 2018, we operated through five reportable segments: (i) Gas Gathering and Processing Services, (ii) Liquid Pipelines and Services, (iii) Natural Gas Transportation Services, (iv) Offshore Pipelines and Services and (v) Terminalling Services. For further discussion of our reporting segments see Note 23. Reportable Segments. Our primary assets are strategically located in some of the most prolific onshore and offshore producing regions and key demand markets in the United States. Our gathering and processing assets are primarily located in (i) the Permian Basin of West Texas, (ii) the Cotton Valley/Haynesville Shale of East Texas, (iii) the Eagle Ford Shale of South Texas, (iv) the Bakken Shale of North Dakota and (v) offshore in the Gulf of Mexico. Our transmission assets are in key demand markets in Oklahoma, Alabama, Arkansas, Louisiana, Mississippi and Tennessee. Basis of presentation As discussed in Note 4. Acquisitions, we acquired JP Energy Partners LP ("JPE") in a unit-for-unit exchange on March 8, 2017. As both the Partnership and JPE were controlled by ArcLight affiliates, the acquisition represented a transaction among entities under common control. Although the Partnership was the legal acquirer, JPE was considered the acquirer for accounting purposes as ArcLight obtained control of JPE on April 15, 2013 before it obtained control of the Partnership. The accompanying consolidated financial statements represent the JPE historical cost basis consolidated financial statements retrospectively adjusted to reflect its acquisition of the Partnership at ArcLight's historical cost bases effective April 15, 2013, the date on which ArcLight obtained control of the Partnership. Transactions between entities under common control We may enter into transactions with ArcLight affiliates whereby we receive midstream assets or other businesses in exchange for cash or Partnership equity. As the transactions are between entities under common control we account for the net assets acquired at the affiliate's historical cost basis, whether the transactions are considered assets or business acquisitions. In certain cases, our historical consolidated financial statements will be revised to include the results attributable to the assets acquired from the later of April 15, 2013 (the date Arclight affiliates obtained control of our General Partner) or the date the ArcLight affiliates obtained control of the assets or business acquired. Consolidation policy The accompanying consolidated financial statements include accounts of American Midstream Partners, LP, and its controlled subsidiaries. All significant inter-company accounts and transactions have been eliminated in the preparation of the accompanying consolidated financial statements. Going Concern Assessment and Management’s Plans Pursuant to FASB ASC 205-40, Presentation of Financial Statements – Going Concern (Subtopic 205-40): Disclosure of Uncertainties About an Entity's Ability to Continue as a Going Concern, we are required to assess our ability to continue as a going concern for a period of one year from the date of the issuance of these consolidated financial statements. Substantial doubt about an entity’s ability to continue as a going concern exists when relevant conditions and events, considered in the aggregate, indicate that it is probable that the entity will be unable to meet its obligations as they become due within one year from the financial statement issuance date. As discussed in Note 14. Debt Obligations, our Credit Agreement matures on September 5, 2019 and has not been renewed as of the date of the issuance of these consolidated financial statements. As discussed in Note 21. Related Party Transactions, the Board received a non-binding proposal from Magnolia, an affiliate of ArcLight to acquire the common units that it does not already own. On March 17, 2019, we entered into an Agreement and Plan of Merger (the “Merger Agreement”) with Anchor Midstream Acquisition, LLC, a Delaware limited liability company (“Proposed Parent”), Anchor Midstream Merger Sub, LLC, a Delaware limited liability company (“Proposed Merger Sub”), and High Point Infrastructure Partners, LLC, a Delaware limited liability company (“HPIP”), pursuant to which Proposed Merger Sub will merge with and into the Partnership, with the Partnership surviving as a direct wholly owned subsidiary of our General Partner and Proposed Parent (the “Pending Merger”). We expect the Pending Merger to close in the second quarter of 2019. As the Merger Agreement is subject to customary closing conditions and because the Pending Merger may affect how, or if, the Partnership elects to obtain a maturity extension, management has deferred finalization of a renewal of the Credit Agreement. While we intend to renew or extend the terms of our Credit Agreement, until such time as we have executed an agreement to refinance or extend the maturity of our Credit Agreement, we cannot conclude that it is probable we will do so, and accordingly, this raises substantial doubt about our ability to continue as a going concern. As the renewal or refinance of the Credit Agreement remains uncertain, the audited financial statements contained in this Form 10-K include a note regarding our ability to continue as a going concern. Prior to our entry into the Waiver, the existence of this going concern qualification in our audited financial statements would have constituted an event of default under the Credit Agreement. Pursuant to the Waiver, the administrative agent and certain lenders (as required by the Credit Agreement) have waived the Financial Statements Audit Requirement for the fiscal year ended December 31, 2018. Although we entered into the Waiver to address the event of default otherwise arising pursuant to the existence of a going concern note and material weakness exception in our audited financial statements contained in this Form 10-K, there is no guarantee that our lenders will agree to waive events of default or potential events of default in the future. Summary of Significant Accounting Policies Use of estimates When preparing consolidated financial statements in conformity with U.S. GAAP, management must make estimates and assumptions based on information available at the time. These estimates and assumptions affect the reported amounts of assets, liabilities, revenues and expenses, as well as the disclosures of contingent assets and liabilities as of the date of the consolidated financial statements. Estimates and assumptions are based on information available at the time such estimates and assumptions are made. Adjustments made with respect to the use of these estimates and assumptions often relate to information not previously available. Uncertainties with respect to such estimates and assumptions are inherent in the preparation of consolidated financial statements. Estimates and assumptions are used in, among other things, i) estimating unbilled revenues, product purchases and operating and general and administrative costs, ii) developing fair value assumptions, including estimates of future cash flows and discount rates, iii) analyzing long-lived assets, goodwill and intangible assets for possible impairment, iv) estimating the useful lives of assets and v) determining amounts to accrue for contingencies, guarantees and indemnifications. Actual results, therefore, could differ materially from estimated amounts. Cash, cash equivalents and restricted cash We consider all highly liquid investments with an original maturity of three months or less at the date of purchase to be cash equivalents. The carrying value of cash and cash equivalents approximates fair value because of the short term to maturity for these investments. From time to time we are required to maintain cash in separate accounts the use of which is restricted by the terms of our debt agreements or asset retirement obligations. Such amounts are included in Restricted cash in our Consolidated Balance Sheets. Inventory Inventory, which is mainly comprised of crude oil, refined products and NGLs, is stated at the lower of cost or net realizable value. Cost of refined products and NGLs inventory is determined using the first-in, first-out (FIFO) method and the cost of crude oil inventory is determined using the weighted-average method. Allowance for doubtful accounts We establish provisions for losses on accounts receivable when we determine that we will not collect all or part of an outstanding balance. Collectability is reviewed regularly and an allowance is established or adjusted, as necessary, using the specific identification method. We recorded allowances for doubtful accounts of $0.6 million and $0.2 million, respectively, as of December 31, 2018 and 2017. Bad debt expense for the years ended December 31, 2018, 2017 and 2016 was approximately $0.7 million, $0.1 million and $0.6 million, respectively, which is exclusive of the Propane Business. Derivative financial instruments Our net income (loss) and cash flows are subject to volatility stemming from changes in interest rates on our variable rate debt, commodity prices and fractionation margins (the relative difference between the price we receive from NGL sales and the corresponding cost of natural gas purchases). In an effort to manage the risks to unitholders, we may use a variety of derivative financial instruments such as swaps, collars, interest rate caps or forward contracts to create offsetting positions to specific commodity or interest rate exposures. We record all derivative financial instruments in our Consolidated Balance Sheets at fair value as current and long-term assets or liabilities on a net basis by counterparty. We record changes in the fair value of our commodity derivatives in Gains (losses) on commodity derivatives, net while changes in the fair value of our interest rate swaps are included in Interest expense, net of capitalized interest in our Consolidated Statements of Operations. Our hedging program provides a control structure and governance for our hedging activities specific to identified risks and time periods, which are subject to the approval and monitoring by the board of directors of our General Partner ("the Board"). We employ derivative financial instruments in connection with an underlying asset, liability or anticipated transaction, and we do not use derivative financial instruments for speculative or trading purposes. The price assumptions we use to value our derivative financial instruments can affect our net income (loss) each period. We use published market price information where available, or quotations from over-the-counter, market makers to find executable bids and offers. The valuations also reflect the potential impact of related conditions, including credit risk of our counterparties. The amounts reported in our consolidated financial statements change quarterly as these valuations are revised to reflect actual results, changes in market conditions or other factors, many of which are beyond our control. We are also a party to a number of contracts that have elements of a derivative instrument. These contracts are primarily forward purchase and sales contracts with counterparties. Although many of these contracts have the requisite elements of a derivative instrument, these contracts qualify for the normal purchase and normal sales exception because they provide for the delivery of products or services in quantities that are expected to be used in the normal course of operating our business and the price in the contract is directly associated with the price of the product or service being purchased or sold. As a result, these contracts are not recorded in our consolidated financial statements until they are settled. Fair value measurements We apply the authoritative accounting provisions for measuring the fair value of our derivative financial instruments and disclosures associated with our outstanding indebtedness. We define fair value as an exit price representing the expected amount we would receive when selling an asset or pay to transfer a liability in an orderly transaction with market participants at the measurement date. We use various assumptions and methods in estimating the fair values of our financial instruments. The carrying value of all non-derivative financial instruments included in current assets (including cash, cash equivalents, restricted cash and accounts receivable) and current liabilities (including accounts payable but excluding short-term debt) approximates the applicable fair value due to the short maturity of those instruments. We employ a hierarchy which prioritizes the inputs we use to measure recurring fair value into three distinct categories based upon whether such inputs are observable in active markets or unobservable. We classify assets and liabilities in their entirety based on the lowest level of input that is significant to their fair value measurement. Our methodology for categorizing assets and liabilities that are measured at fair value pursuant to this hierarchy gives the highest priority to unadjusted quoted prices in active markets and the lowest level to unobservable inputs as outlined below:
We utilize a mid-market pricing convention, or the "market approach," for valuation for assigning fair value to our derivative assets and liabilities. Our credit exposure for over-the-counter derivatives is directly tied to our counterparty and continues until the maturity or termination of the contracts. As appropriate, valuations are adjusted for various factors such as credit and liquidity considerations. Property, plant and equipment We capitalize expenditures related to property, plant and equipment that have a useful life greater than one year. We also capitalize expenditures that improve or extend the useful life of an asset. Maintenance and repair costs, including any planned major maintenance activities, are expensed as incurred. We record property, plant and equipment at cost and recognize depreciation expense on a straight-line basis over the related estimated useful lives of the assets which range from 3 to 40 years. Our determination of the useful lives of property, plant and equipment requires us to make various assumptions, including the supply of and demand for hydrocarbons in the markets served by our assets, normal wear and tear of the facilities and the extent and frequency of maintenance programs. We classify long-lived assets to be disposed of through sales that meet specific criteria as held for sale. We cease depreciating those assets effective on the date the asset is classified as held for sale. We record those assets at the lower of their carrying value or the estimated fair value less the cost to sell. Until the assets are disposed of, our estimate of fair value is re-determined when related events or circumstances change. Impairment of long lived assets We evaluate the recoverability of our property, plant and equipment and intangible assets with definite lives when events or circumstances indicate we may not recover the carrying amount of the assets. We continually monitor our operations, the market and business environment to identify indicators that could suggest an asset or asset group may not be recoverable. We evaluate the asset or asset group for recoverability by estimating the undiscounted future cash flows expected to be derived from their use and disposition. These cash flow estimates require us to make projections and assumptions for many years into the future for pricing, demand, competition, operating cost, contract renewals and other factors. An asset or asset group is considered impaired when the estimated undiscounted cash flows are less than the carrying amount. In that event, an impairment loss is recognized to the extent that the carrying amount of the asset or asset group exceeds its fair value as determined by quoted market prices in active markets or present value techniques. The determination of fair values using present value techniques requires us to make projections and assumptions regarding future cash flows and weighted average cost of capital. Any changes we make to these projections and assumptions could result in significant revisions to our evaluation of the recoverability of our property, plant and equipment and the recognition of an impairment loss in our consolidated statements of operations. Goodwill impairment We record goodwill for the excess of the cost of an acquisition over the fair value of the net assets of the acquired business. Goodwill is reviewed for impairment at least annually, as of October 1st of each year, or more frequently if an event or change in circumstance indicates that an impairment may have occurred. We first assess qualitative factors to evaluate whether it is more likely than not that an impairment has occurred, and it is therefore necessary to perform the one-step quantitative goodwill impairment test. If the one-step quantitative goodwill impairment test indicates that the goodwill is impaired, an impairment loss is recorded, which is the difference between the carrying value of the reporting unit to its fair value, with the impairment loss not to exceed the amount of goodwill recorded. When performing a quantitative impairment test, we generally determine the fair value of our reporting units ("RU") using a discounted cash flow method. In the event we enter into an agreement to sell all or substantially all of an RU, we will utilize such information. While using the discounted cash flow method, we must make estimates of projected cash flows related to assets, which include, but are not limited to, assumptions about revenue growth rates, operating margins, weighted average costs of capital and future market conditions, the use or disposition of assets, estimated remaining life of assets and future expenditures necessary to maintain current operations. We also must make certain estimates and assumptions, including, among other things, changes in general economic conditions in regions in which our markets are located, the availability and prices of energy commodities (such as natural gas, crude oil and refined products), our ability to negotiate favorable sales agreements, the risks that natural gas exploration and production activities will not occur or be successful, our dependence on certain significant customers and producers of natural gas and competition from other companies. The fair value is estimated using the income approach based on significant inputs not observable in the market and thus represent a Level 3 measurement. Under the discounted cash flow method, we determine fair value based on estimated future cash flows and earnings before interest, income tax, depreciation and amortization (“EBITDA”) of each RU including estimates for capital expenditures, discounted to present value using the risk-adjusted industry rate, which reflects the overall level of inherent risk of an RU. Cash flow projections are derived from one-year budgeted amounts and five-year operating forecasts plus an estimate of later period cash flows, all of which are evaluated by management. Subsequent period cash flows are developed for each RU using growth rates that management believes are reasonably likely to occur. The annual budget process is typically completed near the annual goodwill impairment testing date, and management uses the most recent information for the annual impairment tests. The forecast is also subjected to a comprehensive update annually in conjunction with the annual budget process and is revised periodically to reflect new information and revised expectations. The estimates of future cash flows and EBITDA are subjective in nature and are subject to impacts from our business risks. While we believe we have made reasonable estimates and assumptions based on available information to calculate the fair value, if future results are not consistent with our estimates, changes in fair value estimates could result in additional impairments in future periods that could be material to our results of operations. Intangible assets We record the estimated fair value of acquired customer contracts, relationships and dedicated acreage agreements as intangible assets. These intangible assets have definite lives and are subject to amortization on a straight-line basis over their economic lives, currently ranging between 5 and 30 years. We assess intangible assets for impairment together with related underlying long-lived assets whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Investment in unconsolidated affiliates We hold membership interests in entities that own and operate natural gas pipeline systems and NGL and crude oil pipelines in and around Louisiana, Alabama, Mississippi and the Gulf of Mexico. While we have significant influence over these entities, we do not control them and therefore, they are accounted for using the equity method and are reported in Investment in unconsolidated affiliates in our Consolidated Balance Sheets. We evaluate the recoverability of these investments on a regular basis and recognize impairment write downs if we determine a loss in value represents an other-than-temporary-decline. The unconsolidated affiliates that were determined to be variable interest entities (“VIE”) due to disproportionate economic interests and decision making rights were further evaluated under the VIE method of consolidation. In each case, we lack the power to direct the activities that most significantly impact the unconsolidated affiliate’s economic performance. Therefore, as we do not hold a controlling financial interest in these affiliates, we account for our related investments using the equity method. In each case, we are not obligated to absorb losses greater than our proportional ownership percentages. We have joint venture arrangements in which we and our partners share proportional ownership and responsibilities and receive returns in accordance with our ownership percentage. See further discussion in Note 11. Investments in unconsolidated affiliates. Deferred financing costs Costs incurred in connection with our revolving credit facilities are deferred and charged to interest expense over the term of the related credit agreement. Such amounts are included in Other assets, net in our Consolidated Balance Sheets. Costs incurred in connection with our long-term debt such as the 8.50% Senior Notes and 3.77% Senior Notes are also deferred and charged to interest expense over the respective term of the agreements; however, these amounts are reflected as a reduction of the related obligation. Gains or losses on debt repurchases or extinguishment include any associated unamortized deferred financing costs. Asset retirement obligations Asset retirement obligations ("ARO") are legal obligations associated with the retirement of tangible long-lived assets that result from the asset's acquisition, construction, development and operation. An ARO is initially measured at its estimated fair value. Upon initial recognition, we also record an increase to the carrying amount of the related long-lived asset. We depreciate the asset using the straight-line method over the period during which it is expected to provide benefits. After initial recognition, we revise the ARO to reflect the passage of time and for changes in the estimated amount or timing of cash flows. We have legal obligations requiring us to decommission our offshore pipeline systems at retirement. In certain rate jurisdictions, we are permitted to include annual charges for removal costs in the regulated cost of service rates we charge our customers. Additionally, legal obligations exist for certain of our onshore right-of-way agreements due to requirements or landowner options to compel us to remove the pipe at final abandonment. Sufficient data exists with certain onshore pipeline systems to reasonably estimate the cost of abandoning or retiring a pipeline system. However, in some cases, there is insufficient information to reasonably determine the timing and/or method of settlement for purposes of estimating the fair value of the ARO. In these cases, the ARO cost is considered indeterminate because there is no data or information that can be derived from past practice, industry practice, management's experience or the asset's estimated economic life. The useful lives of most pipeline systems are primarily derived from available supply resources and ultimate consumption of those resources by end users. Variables can affect the remaining lives of the assets which preclude us from making a reasonable estimate of the ARO. Indeterminate ARO costs will be recognized in the period in which sufficient information exists to reasonably estimate potential settlement dates and methods. Commitments, contingencies and environmental liabilities We expense or capitalize, as appropriate, expenditures for ongoing compliance with environmental regulations that relate to past or current operations. We expense amounts we incur from the remediation of existing environmental contamination caused by past operations that do not benefit future periods by preventing or eliminating future contamination. We record liabilities for environmental matters when assessments indicate that remediation efforts are probable and the costs can be reasonably estimated. Estimates of environmental liabilities are based on currently available facts, existing technology and presently enacted laws and regulation taking into consideration the likely effects of inflation and other factors. These amounts also take into account our prior experience in remediating contaminated sites, other companies' clean-up experience and data released by government organizations. Our estimates are subject to revision in future periods based on actual cost or new information. We evaluate recoveries from insurance coverage separately from the liability and, when recovery is probable, we record an asset separately from the associated liability in our consolidated financial statements. We recognize liabilities for other commitments and contingencies when, after fully analyzing the available information, we determine it is probable that a liability has been incurred and the amount of loss can be reasonably estimated. When a range of probable loss can be estimated, we accrue the most likely amount, or if no amount is more likely than another, we accrue the minimum of the range of probable loss. We expense legal costs associated with loss contingencies as such costs are incurred. Noncontrolling interests Noncontrolling interests represent the minority interest holders' proportionate share of the equity in certain of our consolidated subsidiaries and are adjusted for the minority interest holders' proportionate share of the subsidiaries' earnings or losses each period. Revenue recognition Our revenue is derived from the provision of gathering, processing, transportation, terminalling and storage services and the sale of commodities primarily to marketers and brokers, refiners and chemical manufacturers, utilities and power generation customers, industrial users and local distribution companies. Services revenue also includes revenues generated through operating lease arrangements. Beginning on January 1, 2018, we account for revenue from contracts with customers in accordance with Topic 606. The unit of account in Topic 606 is a performance obligation, which is a promise in a contract to transfer to a customer either a distinct good or service (or bundle of goods or services) or a series of distinct goods or services provided at a point in time or over a period of time. Topic 606 requires that a contract’s transaction price, which is the amount of consideration to which an entity expects to be entitled in exchange for transferring promised goods or services to a customer, is to be allocated to each performance obligation in the contract based on relative standalone selling prices and recognized as revenue when (point in time) or as (over time) the performance obligation is satisfied. See Note 2. Recent Accounting Pronouncements, for further discussion regarding our January 1, 2018 implementation of the new Revenue Recognition guidance. Cost of sales Cost of sales represent the cost of commodities purchased for resale or obtained in connection with certain of our customer revenue arrangements. These costs do not include an allocation of depreciation expense or direct operating costs. Corporate expenses Corporate expenses include compensation costs for executives and administrative personnel, professional service fees, rent expense and other general and administrative expenses and are recognized as incurred. Operational balancing agreements and natural gas imbalances To facilitate deliveries of natural gas and provide for operational flexibility, we have operational balancing agreements in place with other interconnecting pipelines. These agreements ensure that the volume of natural gas a shipper schedules for transportation between two interconnecting pipelines equals the volume actually delivered. If natural gas moves between pipelines in volumes that are more or less than the volumes the shipper previously scheduled, a natural gas imbalance is created. The imbalances are settled through periodic cash payments or repaid in-kind through future receipt or delivery of natural gas. Natural gas imbalances are recorded in Other current assets or Accrued expenses and other current liabilities in our Consolidated Balance Sheets at cost which approximates fair value. Equity-based compensation We award equity-based compensation to management, non-management employees and directors under our long-term incentive plans, which provide for the issuance of options, unit appreciation rights, restricted units, phantom units, other unit-based awards, unit awards or replacement awards, as well as tandem Distribution Equivalent Rights ("DERs"). Compensation expense is measured by the fair value of the award at the date of grant as determined by management. Compensation expense is recognized in Corporate expenses and Direct operating expenses in our Consolidated Statements of Operations over the requisite service period of each award. Income taxes The Partnership is not a taxable entity for U.S. federal income tax purposes or for the majority of states that impose an income tax. Taxes on our net income are generally borne by our unitholders through the allocation of taxable income. Prior to the disposition of Marine Products in July 2018 (as discussed in Note 5. Dispositions), we owned American Midstream Blackwater, LLC, which owned a subsidiary that had operations which were subject to both U.S. federal and state income taxes. We accounted for income taxes of that subsidiary using the asset and liability approach. If it was more than likely that a deferred tax asset would not be realized, a valuation allowance was recognized. Margin tax expense results from the enactment of laws by the state of Texas that apply to entities organized as partnerships and is included in Income tax expense in our Consolidated Statements of Operations. The Texas margin tax is computed on the portion of our taxable margin which is apportioned to Texas. Net income (loss) for financial statement purposes may differ significantly from taxable income (loss) allocable to unitholders as a result of differences between the financial reporting and income tax bases of our assets and liabilities and the taxable income allocation requirement under our Partnership Agreement. The aggregate difference in the basis of our net assets for financial and tax reporting purposes cannot be readily determined because information regarding each partner's tax attributes in us is not available. Accumulated other comprehensive income (loss) Accumulated other comprehensive income (loss) is comprised solely of adjustments related to the Partnership's postretirement benefit plan. Limited partners' net income (loss) per unit We compute earnings per unit using the two-class method. The two-class method requires that securities which meet the definition of a participating security should be considered in the computation of basic earnings per unit. Under the two-class method, earnings per unit is calculated as if all of the earnings for the period were distributed under the terms of the Partnership Agreement, regardless of whether the General Partner has discretion over the amount of distributions to be made in any particular period, whether those earnings would actually be distributed during a particular period from an economic or practical perspective or whether the General Partner has other legal or contractual limitations on its ability to pay distributions that would prevent it from distributing all of the earnings for a particular period. The two-class method does not impact our overall net income or other financial results; we make distributions on the basis of available cash and not earnings. However, if a distribution exceeds the Minimum Quarterly Distribution it will have the impact of reducing net income per limited partner unit. This result occurs as a larger portion of the excess would be allocated to the incentive distribution rights of the General Partner. In periods in which our aggregate net income does not exceed our aggregate distributions for such period, the two-class method does not have any impact on our calculation of earnings per limited partner unit. As our preferred units participate in distributions to our common unitholders, in periods in which our aggregate net income exceeds our aggregate distributions for such period, the two-class method will have the impact of reducing net income per limited partner unit. |
New Accounting Pronouncements |
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| Accounting Policies [Abstract] | |||||||||
| New Accounting Pronouncements | New Accounting Pronouncements Standards Adopted in 2018 Revenue from Contracts with Customers (Topic 606) - In May 2014, the Financial Accounting Standards Board (the “FASB”) issued a new standard related to revenue recognition which supersedes most of the existing revenue recognition requirements in GAAP and requires entities to recognize revenue at an amount that reflects the consideration to which an entity expects to be entitled in exchange for transferring goods or services to a customer. It also requires significantly expanded disclosures regarding the qualitative and quantitative information of an entity’s nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. The FASB has issued several amendments to the standard since its issuance, including clarification on accounting for licenses of intellectual property, identifying performance obligations, reporting gross versus net revenue and narrow-scope revisions and practical expedients. We adopted the new standard on January 1, 2018 (the “initial application” date):
Our revenue is derived from the provision of gathering, processing, transportation, terminalling and storage services and the sale of commodities primarily to marketers and brokers, refiners and chemical manufacturers, utilities and power generation customers, industrial users and local distribution companies. Beginning on January 1, 2018, we account for revenue from contracts with customers in accordance with Topic 606. The unit of account in Topic 606 is a performance obligation, which is a promise in a contract to transfer to a customer either a distinct good or service (or bundle of goods or services) or a series of distinct goods or services provided at a point in time or over a period of time. Topic 606 requires that a contract’s transaction price, which is the amount of consideration to which an entity expects to be entitled in exchange for transferring promised goods or services to a customer, is to be allocated to each performance obligation in the contract based on relative standalone selling prices and recognized as revenue when (point in time) or as (over time) the performance obligation is satisfied. Commodity Sales - For the majority of our commodity sales contracts: (i) each unit of product is a separate performance obligation, since our promise is to sell multiple distinct units of product at a point in time, (ii) the transaction price principally consists of variable consideration, which is determinable on commodity index prices for the volume of the product sold to the customer that month and (iii) the transaction price is allocated to each performance obligation based on the product’s standalone selling price. Revenues from sales of commodities are recognized at the point in time when control of the commodity transfers to the customer, which generally occurs upon delivery of the product to the customer or its designee. Payment is generally received from the customer in the month following delivery. Contracts with customers have varying terms, including spot sales, month-to-month contracts and multi-year agreements. In our Liquid Pipelines and Services segment, we enter into purchase and sale contracts as well as buy/sell contracts with counterparties, under which we gather and transport different types of crude oil and eventually sell the crude oil to either the same counterparty or different counterparties. For each of these arrangements, the Partnership assesses if control of the underlying commodity volumes transfers to the Partnership. Generally, the Partnership is unable to direct the use of the commodity volumes it purchases from the supplier because the Partnership is contractually required to redeliver an equivalent volume of the commodity back to the supplier or to a specified customer, therefore these arrangements are recorded on a net basis. Occasionally, we enter into crude oil inventory exchange arrangements with the same counterparty where the purchase and sale of inventory are considered in contemplation of each other. These types of arrangements are accounted for as inventory exchanges and are recorded on a net basis. Services - The Partnership provides gathering, processing, transportation, terminalling and storage services pursuant to a variety of contracts. Generally, for the majority of these contracts: (i) our promise is to transfer (or stand ready to transfer) a series of distinct integrated services over a period of time, which is a single performance obligation and (ii) the transaction price includes fixed or variable consideration, or both fixed and variable consideration. The amount of consideration is determinable at contract inception or at each month’s end based on our right to invoice at month end for the value of services provided to the customer in that month. Revenue is recognized over the service period specified in the contract as the services are rendered using a time-based (passage of time) or units-based (units of service transferred) method for measuring provision of the services. Progress towards satisfying our performance obligation is based on the firm or interruptible nature of the promised service and the terms and conditions of the contract (such as contracts with or without makeup rights). Payment is generally received from the customer in the month of service or the month following the service. Contracts with customers generally are a combination of month-to-month and multi-year agreements. Firm Services - Firm services are services that are promised to be available to the customer at all times during the term of the contract with limited exceptions. These agreements require customers to deliver, transport or throughput a minimum volume over an agreed upon period. Substantially all of such agreements are entered into with customers to economically support the return on our capital expenditure necessary to construct the related asset. Our firm service contracts are typically structured with take-or-pay or minimum volume provisions, which specify minimum service quantities a customer will pay for even if it chooses not to receive or use them in the specified service period (referred to as “deficiency quantities”). Under firm service contracts, we record a receivable from the customer in the period that services are provided or when the transaction occurs, including amounts for deficiency quantities from customers associated with minimum volume commitments. If a customer has a make-up right associated with a deficiency, we defer the revenue attributable to the counterparty’s make-up right and subsequently recognize the revenue at the earlier of when the deficiency volume is delivered or shipped, when the make-up right expires or when it is determined that the customer’s ability to utilize the make-up right is remote. Interruptible Services - Interruptible services are services provided to the extent that we have available capacity. Generally, we do not have an obligation to perform these services until we accept a customer’s periodic request for service. For the majority of these contracts, the customer will pay only for the actual quantities of services it chooses to receive or use and we typically recognize the transaction price as revenue as those units of service are transferred to the customer in the specified service period. Gathering and Processing - Our Gas Gathering and Processing Services segment provides “wellhead-to-market” services to producers of natural gas and NGLs, which include transporting raw natural gas from various receipt points through gathering systems, treating the raw natural gas, processing raw natural gas to separate the NGLs from the natural gas, fractionating NGLs and selling or delivering pipeline-quality natural gas and NGLs to various markets and pipeline systems. Services can be firm if subject to a minimum volume commitment or acreage dedication or interruptible when offered on an as requested, non-guaranteed basis. Revenue for fee-based gathering and processing services is valued based on the rate in effect for the month of service and is recognized in the month of service based on the volumes of natural gas we gather, process and fractionate. Under these arrangements, we may take control of: (i) none of the commodities we sell (i.e., residue gas or NGLs), (ii) a portion of the commodities we sell or (iii) all of the commodities we sell. In those instances where we purchase and obtain control of the entire natural gas stream in our producer arrangements, we have determined these are contracts with suppliers rather than contracts with customers and therefore, these arrangements are not included in the scope of Topic 606. These supplier arrangements are subject to updated guidance in Accounting Standards Codification (“ASC”) 705, Cost of Sales and Services, whereby any embedded fees within such contracts, which historically have been reported as services revenue, are now reported as a reduction to cost of sales upon adoption of Topic 606. In those instances where we remit all of the cash proceeds received from third parties for selling the extracted commodities to the producer, less the fees attributable to these arrangements, we have determined that the producer has control over these commodities. Upon adoption of Topic 606, we eliminated recording both sales revenue (natural gas and products) and cost of sales amounts and now only record fees attributable to these arrangements as service revenues. In other instances where we do not obtain control of the extracted commodities we sell, we are acting as an agent for the producer and, upon adoption of Topic 606, we have continued to recognize services revenue for the net amount of consideration we retain in exchange for our service. The Partnership may charge additional service fees to customers for a portion of the contract term (i.e., for the first year of a contract or until reaching a volume threshold) due to the significant upfront capital investment, and these fees are initially deferred and recognized to revenue over the expected period of customer benefit, generally the lesser of the expected contract term or the life of the related properties. Transportation - Our transportation operations generally consist of fee-based activities associated with transporting crude oil, natural gas and NGL on pipelines, gathering systems and trucks. Revenues from pipeline tariffs and fees are associated with the transportation at a published tariff, as well as revenues associated with agreements for committed capacity on various assets. We primarily recognize pipeline tariff and fee revenues over time based on the volumes delivered and invoiced. The majority of our pipeline tariff and fee revenues are based on actual volumes and rates. As is common in the pipeline transportation industry, our tariffs incorporate a loss allowance factor. The intent of the allowance in arrangements for the transportation of natural gas is to approximate the natural shrink that occurs when transporting gas. For crude oil transportation arrangements, loss allowance provisions are immaterial to the Partnership. In the event the Partnership retains excess natural gas and crude oil and subsequently sells the commodity to a third party, the sale is recorded at that point in time as a commodity sale. Terminalling and Storage - In our Terminalling Services segment, we generally received fee-based compensation on guaranteed firm storage contracts, throughput fees charged to our customers when their products are either received or disbursed and other operational charges associated with ancillary services provided to our customers, such as excess throughput and steam heating. Storage fees resulting from short-term and long-term contracts are typically recognized in revenue ratably over the term of the contract regardless of the actual storage capacity utilized. Substantially all of our Terminalling Services segment assets were sold in 2018, see Note 5. Dispositions for more information. Adoption of the new revenue standard resulted in changes to the timing of revenue recognition and in the reclassification between financial statement line items. See Note 3. Revenue Recognition, for further discussion. Statement of Cash Flows - In August 2016, the FASB issued Accounting Standards Update (“ASU”) No. 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments (“ASU 2016-15”). ASU 2016-15 provides specific guidance on cash flow classification issues to reduce diversity in practice. In connection with the January 1, 2018 retrospective adoption of this ASU, for the year ended December 31, 2017, we reclassified $2.8 million in distributions received from unconsolidated affiliates from operating cash inflows to investing cash inflows and reclassified $2.5 million of transaction costs associated with the disposal of our Propane Business from an investing cash outflow to an operating cash outflow in our Consolidated Statement of Cash Flows. Transaction costs for the year ended December 31, 2016 were not material. In November 2016, the FASB issued ASU No. 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash (“ASU 2016-18”), which requires amounts described as restricted cash and restricted cash equivalents to be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. A reconciliation between the balance sheet and the statement of cash flows must be disclosed when the balance sheet includes more than one line item for cash, cash equivalents, restricted cash and restricted cash equivalents. We retrospectively adopted ASU 2016-18 as of January 1, 2018. For the year ended December 31, 2017, cash flows from investing activities were adjusted to remove the impact of $298.2 million in restricted cash inflows and for December 31, 2016, cash flows from investing activities were adjusted to remove the impact of $318.5 million in restricted cash outflows. Stock Compensation - In May 2017, the FASB issued ASU No. 2017-09, Compensation - Stock Compensation (Topic 718): Scope of Modification Accounting (“ASU 2017-09”). ASU 2017-09 was issued with the intent to clarify the scope of modification accounting and when it should be applied to a change to the terms or conditions of a share-based payment award. Under the new guidance, modification accounting is required for all changes to share-based payment awards, unless all the following conditions are met: (i) there is no change to the fair value of the award, (ii) the vesting conditions have not changed and (iii) the classification of the award as an equity instrument or a debt instrument has not changed. We adopted ASU 2017-09 on its effective date of January 1, 2018, and the adoption did not have a material impact on our consolidated financial statements. Standards Not Yet Adopted Leases (Topic 842) - In February 2016, the FASB issued ASU No. 2016-02 (“Topic 842”) Leases, which supersedes the lease recognition requirements in ASC 840, Leases. Under the new guidance, for leases with a term longer than 12 months, a lessee should recognize a lease liability and a right-of-use (“ROU”) asset representing its right to use the underlying asset for the lease term. Topic 842 retains a classification distinction between finance leases and operating leases, with the classification affecting the pattern of expense recognition in the income statement. This ASU also requires enhanced disclosures. In 2018, the FASB issued ASU No. 2018-01, Land Easement Practical Expedient for Transition to Topic 842 and ASU No. 2018-11, Targeted Improvements. Under these updates, optional transition practical expedients are available (1) whereby existing or expired land easements that were not previously accounted for as leases under Topic 840 are not required to be evaluated under Topic 842 and (2) lease and associated non-lease components are not required to be separated within lessor arrangements if certain criteria are met. The FASB also issued ASUs 2018-10 and 2018-20, Codification Improvements to Topic 842 and Narrow Scope Improvements for Lessors, respectively, to alleviate unintended consequences from applying Topic 842. The amendments do not make substantive changes to the core provisions or principles of Topic 842 and are not expected to significantly impact our implementation process. We adopted the new standard on its effective date, January 1, 2019, using the modified retrospective application. We have also elected the package of practical expedients permitted under the transition guidance within Topic 842 which, among other things, allows us to carry forward the historical lease classification. As such, we did not reassess (1) whether any expired or existing contracts are or contain leases, (2) the lease classification for any expired or existing leases, and (3) any initial direct costs for any existing leases as of the effective date. We did not elect the hindsight practical expedient which permits entities to use hindsight in determining the lease term and assessing impairment of ROU assets. Additionally, we elected certain practical expedients on an ongoing basis, including the practical expedient for short-term leases pursuant to which a lessee is permitted to make an accounting policy election by class of underlying asset not to recognize a lease liability and ROU asset for leases (1) with a term of 12 months or less and (2) that do not include an option to purchase the underlying asset that the lessee is reasonably certain to exercise. Instead, we will recognize the lease payments for short-term leases within profit and loss on a straight-line basis over the lease term and variable lease payments in the period in which the obligation for those payments is incurred. We selected a third-party consulting firm to assist us with the adoption of the new guidance. We are implementing specialized software and developing policies based on reviews of existing arrangements. We intend to complete any required changes to our systems, software applications and processes, including training personnel and updating our internal controls, during the first quarter 2019. While we continue to evaluate certain aspects of Topic 842, the application will have an effect on our consolidated financial statements from a lessee perspective, with the most significant effects relating to (1) the recognition of new ROU assets and lease liabilities on our balance sheet and (2) significant new disclosures about our leasing activities. We believe substantially all leases where we are a lessee will continue to be classified as operating leases under Topic 842. We do not expect Topic 842 to have a material effect on our consolidated financial statements from a lessor perspective. On adoption, we expect to recognize additional lease liabilities ranging from $28 million to $32 million, with corresponding ROU assets of approximately the same amount. This estimate could change as the Partnership continues to finalize the implementation. Management does not expect a material impact to the Partnership’s Consolidated Statements of Operations or Cash Flows. Financial Instruments - In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (“ASU 2016-13”). This guidance will become effective for interim and annual periods beginning after December 15, 2019. We expect to adopt ASU 2016-13 on January 1, 2020, and we are currently evaluating the effect that adopting this guidance will have on our consolidated financial position, results of operations and cash flows. Fair Value Measurement - In August 2018, the FASB issued ASU No. 2018-13, Fair Value Measurements (Topic 820): Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement (“ASU 2018-13”). This guidance eliminates certain disclosure requirements for fair value measurements for all entities, requires public entities to disclose certain new information and modifies certain disclosure requirements. The FASB developed the amendments to Topic 820 as part of its broader disclosure framework project, which aims to improve the effectiveness of disclosures in the notes to consolidated financial statements by focusing on requirements that clearly communicate the most important information to users of the consolidated financial statements. This guidance will become effective for interim and annual periods beginning after December 15, 2019. We expect to adopt ASU 2018-13 on January 1, 2020, and we are currently evaluating the impact, if any, that adopting this guidance will have on our disclosures. Cloud Computing Arrangements - In August 2018, the FASB issued ASU No. 2018-15, Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement that is a Service Contract ("ASU 2018-15"). The ASU aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. The capitalized implementation costs of a hosting arrangement that is a service contract will be expensed over the term of the hosting arrangement. ASU 2018-15 is effective for annual and interim periods beginning after December 15, 2019. Early adoption is permitted, including adoption in any interim period. The amendments can be applied either retrospectively or prospectively to all implementation costs incurred after the adoption date. We expect to adopt ASU 2018-15 on January 1, 2020, and we are currently evaluating the impact, if any, that adopting this guidance will have on our accounting and disclosures. |
Revenue Recognition |
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| Revenue from Contract with Customer [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Revenue Recognition | Revenue Recognition Effect of ASC Topic 606 Adoption – The effect of adopting Topic 606, due to the change in method to measure project progress, as discussed in Note 2. Recent Accounting Pronouncements, is as follows (in thousands):
The majority of the adjustments in the table above were associated with our natural gas gathering and processing, transportation pipeline and terminalling revenues. The magnitude of the future effect of implementing Topic 606 is dependent on future customer volumes, subject to the impacted contracts and commodity prices for those volumes. Disaggregated Revenue The following table presents our segment revenues from contracts with customers disaggregated by type of activity (in thousands):
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Other Items in Revenue The following table presents the reconciliation of our revenues from contracts with customers to segment revenues and total revenues as disclosed in our Consolidated Statement of Operations (in thousands):
We may utilize derivative instruments in connection with contracts with customers. We purchase and take title to a portion of the NGLs and crude oil that we sell, which may expose us to changes in the price of these products in our sales markets. We do not take title to the natural gas we transport and therefore have no direct commodity price exposure to natural gas. Derivative gains or losses are not included as a component of revenue from contracts with customers but are included in other items in revenue. Contract Balances Our contract assets and liabilities primarily relate to contracts where allocations of the transaction prices result in differences to the pattern and timing of revenue recognition as compared to contractual billings. Where payments are received in advance of recognition as revenue, contract liabilities are created. Where we have earned revenue and our right to invoice the customer is conditioned on something other than the passage of time, contract assets are created. The following table presents the change in the contract assets and liability balances during the year ended December 31, 2018 (in thousands):
As of December 31, 2018, in our Consolidated Balance Sheets, the current portion of contract assets is included as a component of Other current assets and the non-current portion is included in Other assets; the current portion of contract liabilities is included in Accrued expenses and other current liabilities and the non-current portion is included in Other long-term liabilities. Remaining Performance Obligations The Partnership applies the practical expedients in Topic 606 and does not disclose consideration for remaining performance obligations with an original expected duration of one year or less or for variable consideration related to unsatisfied (or partially unsatisfied) performance obligations. The following table as of December 31, 2018, represents only revenue expected to be recognized from contracts where the price and quantity of the product or service are fixed (in thousands):
Due to the application of the practical expedients, the table above represents only a portion of the Partnership’s expected future consolidated revenues and it is not necessarily indicative of the expected trend in total revenues for the Partnership. Certain contracts have not been presented in the table above due to the term being one year or less and due to variability in the amount of performance obligation remaining, variability in the timing of recognition or variability in consideration. Acreage dedications do require us to perform future services but do not contain a minimum level of services and are therefore excluded from this presentation. Long-term supply and logistics arrangements contain variable timing, volumes and/or consideration and are also excluded from this presentation. |
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Acquisitions |
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| Business Combinations [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Acquisitions | Acquisitions 2018 Acquisition Southcross Energy Partners, L.P. Merger Termination Fee On October 31, 2017, we, our General Partner, our wholly owned subsidiary, Cherokee Merger Sub LLC, Southcross Energy Partners, L.P. (“SXE”) and Southcross Energy Partners GP, LLC, entered into an Agreement and Plan of Merger (the “SXE Merger Agreement”), and we, our General Partner and Southcross Holdings LP (“Holdings LP”) entered in to a Contribution Agreement (“Contribution Agreement”) for total consideration of $818 million. Under the Merger Agreement and the Contribution Agreement, we would have acquired SXE and substantially all the current subsidiaries of Holdings LP. The SXE Merger Agreement and the Contribution Agreement originally provided for an outside closing date of June 1, 2018. On June 1, 2018 the parties to the Merger Agreement and the Contribution Agreement agreed to extend such outside closing date to June 15, 2018 (the “Outside Closing Date”). On July 29, 2018, following the expiration of the Outside Closing Date, we received notice of termination of the SXE Merger Agreement from SXE and notice of termination of the Contribution Agreement from Holdings LP. Pursuant to the terms of the Contribution Agreement, we were required to pay Holdings LP a $17 million termination fee. The termination fee was paid in August 2018 and is presented as Termination fee in the Consolidated Statement of Operations. 2017 Acquisitions JP Energy Partners LP On March 8, 2017, the Partnership completed the acquisition of JPE, an entity controlled by ArcLight affiliates, in a unit-for-unit exchange. In connection with the transaction, each JPE common or subordinated unit held by investors not affiliated with ArcLight was converted into the right to receive 0.5775 of a Partnership common unit, and each JPE common or subordinated unit held by ArcLight affiliates was converted into the right to receive 0.5225 of a Partnership common unit. The Partnership issued a total of 20.2 million of its common units to complete the acquisition, including 9.8 million common units to ArcLight affiliates. Viosca Knoll Gathering System On June 2, 2017, we acquired 100% of VKGS from Genesis Energy, L.P. for total consideration of approximately $32.0 million in cash and have accounted for this acquisition as a business combination. VKGS serves producing fields located in the Main Pass, Mississippi Canyon and Viosca Knoll areas of the Gulf of Mexico and connects to several major delivery pipelines including the Partnership’s High Point and Destin pipelines. VKGS will provide greater East-West Gulf connectivity, through the connection of the High Point Gas Transmission system and the Destin Pipeline, both operated by us. The VKGS acquisition added to our Offshore Pipelines and Services segment and was funded with borrowings under our Original Credit Agreement (as defined in Note 14. Debt Obligations). The following table presents our aggregated allocation of the purchase price based on fair values of assets and liabilities acquired at the date of acquisition, June 2, 2017 (in thousands):
The pro forma effect of our business acquisition of VKGS was immaterial to our Consolidated Statement of Operations for the year ended December 31, 2017 and the comparative periods and therefore has not been separately disclosed. Panther On August 8, 2017, the Partnership acquired 100% of the interest in Panther Offshore Gathering Systems, LLC, Panther Pipeline, LLC and Panther Operating Company. LLC from Panther for approximately $60.9 million. The consideration included $39.1 million cash, funded from borrowings under our Original Credit Agreement, and common units representing limited partner interests in the Partnership, valued at $12.5 million based on unit value as of the acquisition date and approximately $9.2 million in assumed liabilities and working capital. Panther owns and operates more than 1,000 miles of oil and gas pipelines, primarily in Texas and Louisiana offshore state and federal waters. The underlying acquired assets are highly complementary to the Partnership’s core Gulf of Mexico assets as a substantial portion of Panther’s cash flows are generated by our joint ventures. As part of the purchase of POGS, we acquired the outstanding interests in one of our equity investments, MPOG, as well as the remaining equity interest in our consolidated subsidiary, AmPan. As such, the Partnership now owns 100% of MPOG and AmPan. We determined that the acquisition of the remaining interest in MPOG on August 8, 2017 resulted in a change in control and MPOG has been consolidated from the acquisition date. The effect was the Partnership’s previously held equity interest in MPOG was remeasured to fair value and the excess (approximately $36.0 million) of fair value over historical carrying value was recognized as a gain in Other income, net in our Consolidated Statement of Operations for the year ended December 31, 2017. For AmPan, which has historically been consolidated by the Partnership, the acquisition of Panther’s remaining interest resulted in the acquisition of a noncontrolling interest. Accordingly, the excess of the fair value of the acquired interest of $28.6 million over the carrying value of the noncontrolling interest (approximately $4.6 million) has been reported as a reduction to general partner and limited partner interests. PPL owns a 50% undivided ownership interest in the Matagorda and the Brazoria County Gas systems which will be proportionally consolidated from the acquisition date. POC operates pipeline assets on behalf of both third parties and affiliates of the Partnership for a fee and will be fully consolidated by the Partnership. The following table presents the aggregated allocation of the purchase price based on estimated fair values of Panther’s assets acquired and liabilities assumed at the date of acquisition, August 8, 2017 (in thousands):
The pro forma effect of our business acquisition of Panther entities was immaterial to our Consolidated Statements of Operations for the year ended December 31, 2017 and the comparative periods and therefore has not been separately disclosed. Delta House Investment On September 29, 2017, we acquired an additional 15.5% equity interest in Class A units of Delta House from affiliates of ArcLight for total cash consideration of approximately $125.4 million. As our 15.5% interest in Delta House was previously owned directly by ArcLight, we have accounted for our investment at our affiliate's carry-over basis resulting in $49.8 million recorded in Investments in unconsolidated affiliates in our Consolidated Balance Sheets and as an investing activity within the related Consolidated Statement of Cash Flows. The amount by which the total consideration exceeded the carry-over basis was $75.6 million and was recorded as a distribution to our general partner within the Consolidated Statement of Changes in Equity, Partners’ Capital and Noncontrolling Interests and a financing activity in the Consolidated Statement of Cash Flows. As of December 31, 2018, the Partnership and ArcLight indirectly own a 35.7% and 23.3% interest, respectively, in Delta House. Such 35.7% interest includes a 35.7% interest in Delta House FPS LLC (“FPS”), which entitles us to receive 100% of the distributions from FPS until a certain payout threshold is met. Once the payout threshold is met, which is projected to occur in the second half of 2020, approximately 7% of the distributions from FPS will be paid to the Class B membership interests in FPS. For the year ended December 31, 2017, the Partnership recorded $41.3 million in equity earnings from Delta House. The Partnership also received cash distributions of $43.7 million during the year. The excess of the cash distributions received over the earnings recorded from Delta House is classified as a return of capital within cash flows from investing activities in our Consolidated Statements of Cash Flows. Our interest in Delta House is accounted for as an equity method investment in the consolidated financial statements. Emerald Transactions On October 27, 2017, American Midstream Emerald, LLC, a wholly-owned subsidiary of the Partnership, entered into a Purchase and Sale Agreement with Emerald Midstream, LLC, an ArcLight affiliate, to purchase an additional 17.0% equity interest in Destin for total consideration of $30.0 million. As our 17% interest in Destin was previously owned directly by ArcLight, we have accounted for our investment at our affiliate's carry-over basis resulting in $30.3 million recorded in Investments in unconsolidated affiliates in our Consolidated Balance Sheets and $30.0 million as an investing activity in our Consolidated Statement of Cash Flows. The amount by which the total consideration was below the carry-over basis was $0.3 million and was recorded as a contribution from our general partner within the Consolidated Statement of Changes in Equity, Partners’ Capital and Noncontrolling Interests and a non-cash financing activity in Note 22. Supplemental Cash flow information for the year ended December 31, 2017. With the acquisition, the Partnership now owns a 66.7% interest in Destin. As Destin continues to be a VIE, the Partnership applied the guidance in ASC 810 - Consolidation to determine if either member has a controlling financial interest and if the Partnership is the primary beneficiary. As a result of our analysis, neither party has a controlling financial interest nor is the Partnership the primary beneficiary, and so the Partnership should not consolidate Destin. As it is not appropriate for the Partnership to consolidate Destin under the VIE model, we revisited the analysis in ASC 323, Investments - Equity Method and Joint Ventures, to determine the appropriate accounting for our interests and concluded that the Partnership should continue to account for Destin using the equity method of accounting as it continues to have the ability to exert significant influence over Destin's operations. Acquisition of Trans-Union pipeline On November 3, 2017, we completed the acquisition of 100% of the equity interests in Trans-Union Interstate Pipeline, LP (“Trans-Union”) from affiliates of ArcLight, for a total consideration of approximately $49.4 million. The consideration consisted of approximately $16.9 million in cash funded from borrowings under our Original Credit Agreement and the assumption of the remaining balance of $32.5 million non-recourse debt with 3.97% interest, quarterly payments and maturity date on December 31, 2032. See Note 14. Debt Obligations for more information. Trans-Union owns a 42-mile, 30-inch diameter high-pressure FERC-regulated natural gas interstate pipeline with 546,000 MMbtu/day of maximum capacity. As a result, the results of these operations are reported in our Natural Gas Transportation Services segment. See Note 23. Reportable Segments. As the transaction represents an asset acquisition among entities under common control, as defined by ASU No. 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business, we did not recast our historical consolidated financial statements to reflect the accounts of Trans-Union from the date ArcLight obtained control. Instead, we recorded the acquired assets at carry over basis or ArcLight's historical cost. |
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Dispositions |
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| Discontinued Operations and Disposal Groups [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Dispositions | Dispositions In the second quarter of 2017, we began executing a capital optimization strategy to simplify our business and redeploy capital from non-core assets toward higher return and growth opportunities. In addition to the sale of our Propane Marketing Services discussed below under Discontinued Operations, we determined that our terminalling assets were not integral to our core strategies, and therefore, we began contemplating their disposition. We began actively marketing our Terminalling Services segment assets to use the proceeds to fund future acquisitions and growth projects. On June 16, 2018, we entered into a definitive agreement for the sale of our marine liquids terminals (the “Marine Products”) to institutional investors. The divestiture of the Marine Products, including the Harvey and Westwego terminals located in the Port of New Orleans, Louisiana and the Brunswick terminal located in the Port of Brunswick, Georgia, is a continuation of the Partnership's previously announced non-core asset divestiture program. On July 31, 2018, we completed the sale of Marine Products. Net proceeds from this disposition were $208.6 million, exclusive of $5.7 million in advisory fees and other costs and were used to pay down our Credit Agreement (as defined in Note 14. Debt Obligations). We recognized a $99.1 million gain, which is reflected in the (Gain) loss on sale of assets, net in our Consolidated Statements of Operations. The tax expense associated with the gain was approximately $29.8 million and is included in Income tax expense in the Consolidated Statement of Operations. The disposition of Marine Products did not meet the criteria for discontinued operations, as we believe the disposal does not represent a strategic shift that will have a major effect on our operations or financial results. On February 16, 2018, we entered into a definitive agreement for the sale of our refined products terminals (the “Refined Products”) to DKGP Energy Terminals LLC (“DKGP”). On August 1, 2018, we and DKGP announced the termination of the agreement. Subsequent to the termination of the DKGP agreement, on November 15, 2018, we entered into a definitive agreement for the sale our Refined Products to Sunoco LLC for approximately $125 million in cash, subject to working capital adjustments. On December 20, 2018, we completed the sale of Refined Products. Net proceeds from this disposition were $125 million, exclusive of $3.7 million in advisory fees and other costs. The proceeds were used to pay-down outstanding borrowings under our Credit Agreement (as defined in Note 14. Debt Obligations). We recognized a $3.5 million loss, which is reflected in the (Gain) loss on sale of assets, net in our Consolidated Statements of Operations. The disposition of Refined Products did not meet the criteria for discontinued operations, as we believe the disposal does not represent a strategic shift that will have a major effect on our operations or financial results. Discontinued Operations On September 1, 2017, we completed the disposition of the Propane Business pursuant to the Membership Interest Purchase Agreement dated July 21, 2017, between AMID Merger LP, a wholly owned subsidiary of the Partnership, and SHV Energy N.V. Through the transaction, we divested Pinnacle Propane’s 40 service locations; Pinnacle Propane Express’ cylinder exchange business and related logistic assets; and the Alliant Gas utility system. Prior to the sale, we moved the trucking business from the Propane Business segment to the Liquid Pipelines and Services segment. With the disposition of the Propane Business, we eliminated the Propane Marketing Services segment. In connection with the transaction, we received approximately $170.0 million in cash, net of customary closing adjustments and exclusive of $2.5 million of transaction costs. We recorded a gain of $47.4 million which is included in (Gains) losses on sale of assets and business line item in our Consolidated Statement of Cash Flows for the year ended December 31, 2017. The results of our Propane Business have been reported as discontinued operations in our Consolidated Statements of Operations. The following tables summarize the financial information related to the Propane Business for the corresponding years (in thousands). Consolidated Statement of Operations
The following table summarizes other selected financial information related to the Propane Business (in thousands):
Mid-Continent On February 1, 2016, we sold certain trucking and marketing assets in the Mid-Continent area (the “Mid-Continent Business”) to JP Development for $9.7 million in cash. We recognized a loss on the disposal of approximately $12.9 million during the year ended December 31, 2015, which primarily related to goodwill and long-lived asset impairment charges. Prior to the classification as discontinued operations, we reported the Mid-Continent Business in our Liquid Pipelines and Services segment. Financial information for the Mid-Continent Business which is included in Income (loss) from discontinued operations, net of tax in the Consolidated Statement of Operations is summarized below (in thousands):
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Concentration of Credit Risk |
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Dec. 31, 2018 | |
| Receivables [Abstract] | |
| Concentration of Credit Risk | Concentration of Credit Risk Significant customers are defined as those who represent 10% of more of our consolidated revenue during the year. In 2018, we had two significant customers, Royal Dutch Shell ("Shell") and Occidental Petroleum Corporation ("Occidental"), which accounted for 27% and 19%, respectively, of our consolidated revenue. The revenue from Shell is reported in our Gas Gathering and Processing Services, Liquid Pipelines and Services, Offshore Pipelines and Services and Terminalling Services segments. The revenue from Occidental is reported in our Gas Gathering and Processing Services, Liquid Pipelines and Services and Terminalling Services segments. In 2017, we had two significant customers, Occidental and Shell, which accounted for 23% and 13%, respectively, of our consolidated revenue. In 2016, we had two significant customers, Occidental and Plains All American Pipeline, L.P, which accounted for 21% and 13%, respectively, of our consolidated revenue. We are party to various commercial netting agreements that allow us and contractual counterparties to net receivable and payable obligations. These agreements are customary, and the terms follow standard industry practice. In the opinion of management, these agreements reduce the overall counterparty risk exposure. |
Other Current Assets |
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| Other Current Assets [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Other Current Assets | Other Current Assets Other current assets consist of the following (in thousands):
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Risk Management Activities |
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| Derivative Instruments and Hedging Activities Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Risk Management Activities | Risk Management Activities Commodity Derivatives To limit the effect of commodity price changes and maintain our cash flow and the economics of our development plans, we enter into commodity derivative contracts from time to time. The terms of the contracts depend on various factors, including management's view of future commodity prices, economics on purchased assets and future financial commitments. This hedging program is designed to mitigate the effect of commodity price declines while allowing us to participate to some extent in commodity price increases. Management regularly monitors the commodity markets and our financial commitments to determine if, when, and at what level commodity hedging is appropriate in accordance with policies that are established by the Board. To meet this objective, we use a combination of fixed price swaps, basis swaps and forward contracts. We enter into commodity contracts with multiple counterparties, and in some cases, may be required to post collateral with our counterparties in connection with our derivative positions. The counterparties are not required to post collateral with us in connection with their derivative positions. Netting agreements are in place that permit us to offset our commodity derivative asset and liability positions with our counterparties. At times, we may also terminate or unwind hedges or portions of hedges in order to meet cash flow objectives or when the expected future volumes do not support the level of hedges. Our forward contracts that qualify for the normal purchase normal sale exception are recognized when the underlying physical transaction is delivered. While these contracts are considered derivative financial instruments, they are not recorded at fair value, but on an accrual basis of accounting. If it is determined that a transaction no longer meets the exception, the fair value of the related contract is recorded in our Consolidated Balance Sheets and immediately recognized through earnings. The following table summarizes the net notional volume buy (sell) of our outstanding commodity-related derivatives, excluding those derivatives that qualified for the normal purchase normal sale exception as of December 31, 2018 and 2017, none of which were designated as hedges for accounting purposes.
Interest Rate Swaps To manage the impact of the interest rate risk associated with our Credit Agreement (defined in Note 14. Debt Obligations), we enter into interest rate swaps from time to time, effectively converting a portion of the cash flows related to our variable rate debt into fixed rate cash flows. As of December 31, 2018 and 2017, we had a combined notional principal amount of $550.0 million in each year, of variable to fixed interest rate swap agreements. As of December 31, 2018, the maximum length of time over which we have hedged a portion of our exposure due to interest rate risk was through December 31, 2022. The fair value of our interest rate swaps was estimated using a valuation methodology based upon forward interest rates and volatility curves as well as other relevant economic measures, if necessary. Discount factors may be utilized to extrapolate a forecast of future cash flows associated with long dated transactions. The inputs, which represent Level 2 inputs in the valuation hierarchy, are obtained from independent pricing services and we have made no adjustments to those prices. Weather Derivative In the second quarters of 2018 and 2017, we entered into a yearly weather derivative arrangement to mitigate the impact of potential unfavorable weather on our operations under which we could receive payments totaling up to $20.0 million and $30.0 million, respectively, in the event that a hurricane of certain strength passes through the areas identified in the derivative arrangement. The weather derivative, which is accounted for using the intrinsic value method, was entered into with a single counterparty, and we are not required to post collateral. We paid a premium of $1.0 million and $1.1 million in 2018 and 2017, respectively, which is amortized to Direct operating expenses on a straight-line basis over the one year term of the contract. Unamortized amounts associated with our weather derivative was approximately $0.5 million and $0.5 million at December 31, 2018 and December 31, 2017, respectively, and is included in Other current assets in our Consolidated Balance Sheets. Financial Instruments Measured at Fair Value on a Recurring Basis – The following table summarizes the fair value of our derivative contracts (before netting adjustments) included in our Consolidated Balance Sheets (in thousands):
As of December 31, 2018 and 2017, there were no offsets to the fair value of our derivative assets and liabilities on a gross basis in the Consolidated Balance Sheets subject to enforceable master netting arrangements. For the years ended December 31, 2018, 2017 and 2016, the realized and unrealized gains (losses) associated with our commodity, interest rate and weather derivative instruments were recorded in our Consolidated Statements of Operations, as follows (in thousands):
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Property, Plant and Equipment, Net |
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| Property, Plant and Equipment [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Property, Plant and Equipment, Net | Property, Plant and Equipment, Net Property, plant and equipment, net, consists of the following (in thousands, excluding useful life):
At December 31, 2018 and 2017, gross property, plant and equipment included $382.0 million and $367.6 million, respectively, related to our FERC regulated interstate and intrastate assets. Depreciation expense totaled $72.0 million, $76.9 million and $69.7 million for the years ended December 31, 2018, 2017 and 2016, respectively, which is included in Depreciation, amortization and accretion in our Consolidated Statements of Operations. Depreciation expense amounts have been adjusted by $8.1 million and $13.2 million for the years ended December 31, 2017 and 2016, respectively, to present the impact of classifying the Propane Business and Mid-Continent's operations as discontinued operations, with the Propane Business being divested in September 2017 and Mid-Continent's operations being divested in February 2016. Capitalized interest was $2.8 million, $2.5 million and $2.7 million for the years ended December 31, 2018, 2017 and 2016, respectively. Impairment In the fourth quarter of 2018, in connection with our annual budget process, we identified certain assets where our projected future cash flows indicated we may not recover their carrying value. Based on this assessment, at December 31, 2018, we recorded an impairment charge of $1.6 million related to our property, plant and equipment. The impairment consisted of $1.5 million related to our AMID Liquids Trucking asset within our Liquid Pipelines and Services segment and $0.1 million related to our Offshore Pipelines and Services segment. Our fair value measurements related to these assets are based on projected future cash flows, which are significant inputs not observable in the market and thus represent a Level 3 measurement. At December 31, 2017, we identified certain assets where events or circumstances indicated we may not recover their carrying value. In the fourth quarter of 2017, due to plant shutdowns and changes in our forecast volumes on certain assets as part of our annual budget process, we made decisions that impact our ability to recover the carrying value of assets. Accordingly, we have impaired our Yellow Rose, Bazor Chatom, Burns Point and Transtar assets in our Gas Gathering and Processing Services segment, COSL in our Liquid Pipeline and Services segment and Trigas in our Natural Gas Transportation services segment. The total impairment charge was $103.9 million related to our property, plant and equipment. The impairment consisted of $97.8 million related to our Gas Gathering and Processing Services segment, $3.9 million related to our Natural Gas Transportation Services segment and $2.2 million related to our Liquid Pipelines and Services segment. Our fair value measurements related to these assets are based on significant inputs not observable in the market and thus represent a Level 3 measurement. There was an impairment charge of $0.7 million recorded in 2016. |
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Goodwill and Intangible Assets, Net |
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| Goodwill and Intangible Assets Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Goodwill and Intangible Assets, Net | Goodwill and Intangible Assets, Net Goodwill The following table presents activity in the Partnership's goodwill balance as of December 31, 2018 and 2017 (in thousands):
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2017 Impairment In 2017, as a result of our annual quantitative analysis in the fourth quarter, we identified that the fair value of two of our seven RUs, Silver Dollar and COSL, which are both in our Liquid Pipelines and Services segment, was less than their carrying values. Accordingly, we recorded an impairment charge of $78.0 million, of which $61.4 million is related to Silver Dollar and $16.6 million is related to COSL. The impairments were primarily due to changes in assumptions during our annual impairment testing and related primarily to the timing of estimated drilling by producers compared to previous expectations. These assumptions were adversely impacted due to delays in drilling and completions by producers. 2016 Impairment In the fourth quarter of 2016, we recognized additional goodwill impairment charges totaling $2.7 million related to our JP Liquids businesses reported in our Liquid Pipelines and Services reportable segment as a result of our quantitative impairment analysis. We also recorded a goodwill impairment charge of $12.8 million in 2016 related to our Pinnacle Propane Express business that we disposed, which is reported in Income (loss) from discontinued operations, net of taxes in our Consolidated Statement of Operations. This was due primarily to declines in future estimated margins as a result of increased competition changes in propane prices. Intangible assets, net Overview Intangible assets, net, consists of customer relationships, customer contracts, dedicated acreage agreements and collaborative arrangements as acquired in connection with business combinations. These intangible assets have definite lives and are subject to amortization on a straight-line basis over their economic lives, currently ranging from approximately 5 years to 30 years. Intangible assets, net, consist of the following (in thousands):
During the fourth quarter of 2017, we identified certain assets where events or circumstances indicated we may not recover their carrying value. Accordingly, we recorded impairment charges of $10.8 million associated with the dedicated acreage related to our Yellow Rose asset in our Gas Gathering and Processing segment and $1.9 million associated with customer relationships related to our COSL asset in our Liquid Pipelines and Services segment. The charges are reported as a component of Impairment of long-lived assets and intangible assets line item in our Consolidated Statement of Operations for the year ended December 31, 2017. Our fair value measurements related to these assets are based on significant inputs not observable in the market and thus represent a Level 3 measurement. For the years ended December 31, 2018, 2017 and 2016, amortization expense on our intangible assets was $10.3 million, $24.3 million and $19.2 million, respectively, which is included in Depreciation, amortization and accretion in the Consolidated Statements of Operations. Included in Income (loss) from discontinued operations, net of tax in our Consolidated Statements of Operations is amortization expense of $1.7 million and $2.9 million for the years ended December 31, 2017 and 2016, respectively, related to the Propane Business which was sold in 2017 and Mid-Continent Business which was sold in 2016. Remaining estimated amortization expense is as follows (in thousands):
The storage tank capacity in our crude oil storage facility in Cushing, Oklahoma is dedicated to one customer pursuant to a long-term contract with an initial expiration date of August 3, 2017 and an optional two-year renewal term. We did not receive a notice of the customer's intent to renew this contract by the required date of February 3, 2017 and therefore we accelerated the remaining amortization of the related customer relationship intangible of approximately $9.9 million over the remaining term of the contract, which expired on August 3, 2017. |
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Investment in Unconsolidated Affiliates |
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| Equity Method Investments and Joint Ventures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Investment in Unconsolidated Affiliates | Investment in Unconsolidated Affiliates For additional information about acquisitions by the Partnership of investments in unconsolidated affiliates, see Note 4. Acquisitions. On August 8, 2017, we entered into a new joint venture agreement with Targa Midstream Services, LLC (“Targa”) through our previously wholly owned subsidiary Cayenne Pipeline, LLC (“Cayenne”). We received $5.0 million in cash in exchange for the sale of 50% ownership interest in Cayenne to Targa. The sole asset of the joint venture is a natural gas pipeline which was converted into an NGL pipeline. Both parties will each have 50% economic interests and 50% voting rights, with Targa serving as the operator of the pipeline and the joint venture. The additional costs of conversion and associated construction were shared equally by us and Targa. On December 28, 2017, the pipeline became operational. The gain recognized associated with this joint venture is included in the (Gain) loss on sales of assets, net in the Consolidated Statement of Operations for the year ended December 31, 2017. The following table presents activity in the Partnership's investments in unconsolidated affiliates (in thousands):
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The difference between our carrying value and the underlying equity in the net assets of our equity investments are assigned to the investment's assets and liabilities based on an analysis of the factors giving rise to the basis difference. The amortization of the basis difference is included in Earnings from unconsolidated affiliates in our Consolidated Statements of Operations. The following table represents the basis difference by unconsolidated affiliate (in thousands):
The following tables include summarized data for the entities underlying our equity method investments (in thousands) (amounts represent 100% of investee financial information):
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Accrued Expenses and Other Current Liabilities |
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| Payables and Accruals [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Accounts Expenses and Other Current Liabilities | Accrued Expenses and Other Current Liabilities Accrued expenses and other current liabilities consists of the following (in thousands):
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Asset Retirement Obligations |
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| Asset Retirement Obligations | Asset Retirement Obligations We record a liability for the fair value of AROs and conditional AROs that we can reasonably estimate, on a discounted basis, in the period in which the liability is incurred. Generally, the fair value of the liability is calculated using discounted cash flow techniques and based on internal estimates and assumptions related to (i) future retirement costs, (ii) future inflation rates and (iii) credit adjusted risk-free interest rates. Significant increases or decreases in the assumptions would result in a significant change to the fair value measurement. Certain assets related to our Offshore Pipelines and Services and Natural Gas Transportation Services segments have regulatory obligations to perform remediation, and in some instances dismantlement and removal activities, when the assets are abandoned. These AROs include varying levels of activity including disconnecting inactive assets from active assets, cleaning and purging assets, and in some cases, completely removing the assets and returning the land to its original state. These assets have been in existence for many years, and with regular maintenance will continue to be in service for many years to come. It is not possible to predict when demand for these transmission services will cease; however, we do not believe that such demand will cease for the foreseeable future. The majority of the current portion of our AROs, which is included in Accrued expenses and other current liabilities in our Consolidated Balance Sheets, is related to the retirement of the Midla pipeline. For further discussion related to the retirement of the Midla Pipeline, see the Note 14. Debt Obligations. The following table presents activity in our AROs (in thousands):
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We may be required to establish security against potential ARO relating to the abandonment of certain transmission assets that may be imposed on the previous owner by applicable regulatory authorities. We have deposited $5.0 million with a third party to secure our performance on these potential obligations. These deposits are included in Restricted cash – long term in our Consolidated Balance Sheets as of December 31, 2018 and 2017. |
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Debt Obligations |
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| Debt Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Debt Obligations | Debt Obligations Our outstanding debt consists of the following as of December 31, 2018 and 2017 (in thousands):
AMID Revolving Credit Agreement On March 8, 2017, the Partnership along with other subsidiaries of the Partnership (collectively, the “Borrowers”) entered into the Second Amended and Restated Credit Agreement, with Bank of America N.A., as Administrative Agent, Collateral Agent and L/C Issuer, Wells Fargo Bank, National Association, as Syndication Agent, and other lenders (the “Original Credit Agreement”). The Original Credit Agreement had an initial borrowing commitment of $900.0 million and provided for an accordion feature that would permit, subject to customary conditions, the borrowing commitment under the facility to be increased to a maximum of $1.1 billion. As a result of the Amendments, defined below, the borrowing commitment under the Credit Agreement, defined below, was $620.0 million at December 31, 2018. During 2018, we amended the Original Credit Agreement by entering into the First Amendment to the Second Amended and Restated Credit Agreement on June 29, 2018 and by entering into the Second Amendment to the Second Amended and Restated Credit Agreement on December 27, 2018 (collectively, the “Amendments” and, the Original Credit Agreement as amended by the Amendments, the “Credit Agreement”; capitalized terms used but not defined herein shall have the meanings assigned thereto in the Credit Agreement) with a syndicate of lenders and Bank of America, N.A., as administrative agent. The Credit Agreement matures on September 5, 2019, and therefore, is being presented as a current liability in our Consolidated Balance Sheet as of December 31, 2018. The Amendments add a required prepayment in the amount equal to 100% of the net cash proceeds received from the Marine Products and Refined Products asset sales and any other disposition greater than $5 million. On July 31, 2018, we completed the sale of Marine Products. Net proceeds from this disposition were $208.6 million, exclusive of $5.7 million in advisory fees and other costs, and were used to pay down the Credit Agreement. On December 20, 2018, we completed the sale of Refined Products. Net proceeds from this disposition were approximately $125.0 million, exclusive of $3.7 million in advisory fees and other costs, and were used to pay down the Credit Agreement. The Amendments also amend our borrowing commitment as follows:
The Amendments add new pricing tiers of LIBOR + 3.50% when Consolidated Total Leverage Ratio equals or exceeds 5.0:1.0 and LIBOR + 4.00% when Consolidated Total Leverage Ratio equals or exceeds 5.5:1.0. The Credit Agreement includes the following financial covenants, as amended by the Amendments and defined in the Credit Agreement, which financial covenants will be tested on a quarterly basis, for the fiscal quarter then ending:
As of December 31, 2018, we were in compliance with our Credit Agreement financial covenants, including those shown below:
We also pay a commitment fee ranging from 0.375% to 0.50% per annum, depending on our total leverage ratio then in effect, on the undrawn portion of the revolving loan under the Credit Agreement. Our ability to maintain compliance with the leverage and interest coverage ratios included in the Credit Agreement may be subject to, among other things, the timing and success of initiatives we are pursuing, which may include expansion capital projects, acquisitions or drop down transactions, as well as the associated financing for such initiatives. The terms of the Credit Agreement also include covenants that restrict our ability to make cash distributions and acquisitions in some circumstances. If required, ArcLight , which controls the General Partner of the Partnership, has confirmed its intent to provide financial support for the Partnership to maintain compliance with the covenants contained in the Credit Agreement through April 10, 2019. All obligations under the Credit Agreement and the guarantees of those obligations are secured, subject to certain exceptions, by a first-priority lien on and security interest in (i) substantially all of the Borrowers’ assets and the assets of certain of the subsidiaries of the Partnership and (ii) the capital stock of certain of the Partnership’s subsidiaries. The guarantees by the Guarantors are full and unconditional and joint and several among the Guarantors. The terms of the Credit Agreement include covenants that restrict our ability to make cash distributions and acquisitions in some circumstances. As of December 31, 2018, we had $514.8 million of borrowings, $39.3 million of letters of credit outstanding and $65.9 million of remaining borrowing commitment under the Credit Agreement, of which $39.8 million was available as of December 31, 2018. The carrying value of amounts outstanding under the Credit Agreement approximates the related fair value, as interest charges vary with market rates conditions. For the years ended December 31, 2018, 2017 and 2016, the weighted average interest rate, excluding the impact of interest rate swaps, on borrowings under our Credit Agreement was approximately 6.47%, 4.96% and 4.29%, respectively. JPE Credit Agreement On February 12, 2014, we entered into the JPE Credit Agreement with Bank of America, N.A, which was available for refinancing and repayment of certain existing indebtedness, working capital, capital expenditures, permitted acquisitions and other general partnership purposes. The JPE Credit Agreement consisted of a $275.0 million revolving loan, which included a sub-limit of up to $100.0 million for letters of credit. Borrowings under the JPE Credit Agreement bore interest at a rate per annum equal to, at our option, either (a) a base rate determined by reference to the highest of (1) the federal funds effective rate plus 0.5%, (2) the prime rate of Bank of America, and (3) LIBOR, subject to certain adjustments, plus 1.00% or (b) LIBOR, in each case plus an applicable rate. The applicable rate was (a) 1.25% for prime rate borrowing and 2.25% for LIBOR borrowings. The commitment fee was subject to an adjustment each quarter based in the Consolidated Net Total Leverage Ratio, as defined in the related agreement. The carrying value of amounts outstanding under the JPE Credit Agreement approximates the related fair value, as interest charges vary with market rate conditions. The JPE Credit Agreement was scheduled to mature on February 12, 2019, but was paid off and terminated on March 8, 2017 in connection with the Partnership's acquisition of JPE. 8.50% Senior Notes On December 28, 2016, the Partnership and American Midstream Finance Corporation, our wholly-owned subsidiary (the “Co-Issuer” and together with the Partnership, the “Issuers”), completed the issuance and sale of $300 million aggregate principal amount of their 8.50% Senior Notes due 2021 (the "8.50% Senior Notes"). The 8.50% Senior Notes are jointly and severally guaranteed by certain of the Partnership's subsidiaries. The 8.50% Senior Notes rank equal in right of payment with all existing and future senior indebtedness of the Issuers, and senior in right of payment to any future subordinated indebtedness of the Issuers. The 8.50% Senior Notes were issued at par and provided approximately $294.0 million in proceeds, after deducting the initial purchasers' discount of $6.0 million. The Partnership also incurred $2.7 million of direct issuance costs resulting in net proceeds related to the 8.50% Senior Notes of $291.3 million. On December 19, 2017, the Issuers completed the issuance and sale of an additional $125 million in aggregate principal amount of 8.50% Senior Notes (the “Additional Issuance”), net of issuance cost of approximately $3.0 million. The Additional Issuance will mature on December 15, 2021 and interest on the Additional Issuance will accrue from December 15, 2017. Interest on the Additional Issuance is payable in cash semiannually in arrears on each June 15 and December 15, with interest payable on the Additional Issuance commencing June 15, 2018. Interest will be payable to holders of record on June 1st and December 1st immediately preceding the related interest payment date and will be computed on the basis of a 360-day year consisting of twelve 30-day months. Pursuant to the registration rights agreements entered into in connection with the issuances of the8.50% Senior Notes, additional interest on the 8.50% Senior Notes accrues at 0.25% per annum for the first 90-day period following December 23, 2017 and by an additional 0.25% per annum with respect to each subsequent 90-day period, up to a maximum additional rate of 1.00% per annum over 8.50%, until we complete an exchange offer for the 8.50% Senior Notes. At any time prior to December 15, 2018, the Issuers were able to redeem up to 35% of the aggregate principal amount of 8.50% Senior Notes, at a redemption price of 108.50% of the principal amount, plus accrued and unpaid interest to the redemption date, in an amount not greater than the net cash proceeds of one or more equity offerings by the Partnership, provided that:
On and after December 15, 2018, the Issuers may redeem all or a part of the 8.50% Senior Notes, at the redemption prices (expressed as percentages of principal amount) set forth below, plus accrued and unpaid interest, if redeemed during the twelve-month period beginning on December 15 of the years indicated below:
The indenture restricts the Partnership’s ability and the ability of certain of its subsidiaries to, among other things: (i) incur, assume or guarantee additional indebtedness, issue any disqualified stock or issue preferred units, (ii) create liens to secure indebtedness, (iii) pay distributions on equity securities, redeem or repurchase equity securities or redeem or repurchase subordinated securities, (iv) make investments, (v) restrict distributions, loans or other asset transfers from restricted subsidiaries, (vi) consolidate with or merge with or into, or sell substantially all of its properties to, another person, (vii) sell or otherwise dispose of assets, including equity interests in subsidiaries, (viii) enter into transactions with affiliates, (ix) engage in certain business activities and (x) enter into sale and leaseback transactions. These covenants are subject to a number of important exceptions and qualifications. If at any time the 8.50% Senior Notes are rated investment grade by either Moody’s Investors Service, Inc. or Standard & Poor’s Ratings Services and no Default or Event of Default (as each are defined in the Indenture) has occurred and is continuing, many of such covenants will terminate and the Partnership and its subsidiaries will cease to be subject to such covenants. 3.77% Senior Notes On September 30, 2016, Midla Financing, LLC ("Midla Financing"), American Midstream (Midla), LLC (“Midla”), and Mid Louisiana Gas Transmission LLC ("MLGT") and together with Midla, (the "Note Guarantors") entered into a Note Purchase and Guaranty Agreement with certain institutional investors (the “Purchasers”) whereby Midla Financing issued $60.0 million in aggregate principal amount of 3.77% Senior Notes due June 30, 2031. Principal and interest on the 3.77% Senior Notes is payable in installments on the last business day of each quarter beginning June 30, 2017 with the remaining balance payable in full on June 30, 2031. The average quarterly principal payment is approximately $1.1 million. The 3.77% Senior Notes were issued at par and provided proceeds of approximately $57.7 million, net of debt issuance costs of $2.3 million. Net proceeds from the 3.77% Senior Notes are restricted and will be used to fund project costs incurred in connection with the construction of the Midla-Natchez Line, the retirement of Midla’s existing 1920’s pipeline, the move of our Baton Rouge operations to the MLGT system and the reconfiguration of the DeSiard compression system and all related ancillary facilities. These proceeds can also be used to pay costs incurred in connection with the issuance of the 3.77% Senior Notes, and for the general corporate purposes of Midla Financing. In addition, revenue is required to be deposited into restricted cash accounts and disbursements must be approved by the lender. As of December 31, 2018 and December 31, 2017, Restricted cash included $23.4 million and $14.9 million related to the 3.77% Senior Notes. The Note Purchase Agreement includes customary representations and warranties, affirmative and negative covenants (including financial covenants), and events of default that are customary for a transaction of this type. Midla Financing must maintain a debt service reserve account containing six months of principal and interest payments, and Midla Financing and the Note Guarantors (including any entities that become guarantors under the terms of the 3.77% Senior Note Purchase Agreement) are restricted from making distributions until June 30, 2017, unless the debt service coverage ratio is not less than, and is not projected to be for the following 12 calendar months less than, 1.20:1.00, and unless certain other requirements are met. In connection with the 3.77% Senior Note Purchase Agreement, the Note Guarantors guaranteed the payment in full of all Midla Financing’s related obligations. Also, Midla Financing and the Note Guarantors granted a security interest in substantially all of their tangible and intangible personal assets, including the membership interests in each Note Guarantor held by Midla Financing, and Midla Holdings pledged the membership interests in Midla Financing to the Collateral Agent. 3.97% Trans-Union Senior Secured Notes On May 10, 2016, Trans-Union Interstate Pipeline, LP ("Trans-Union") entered into an agreement with certain institutional investors in the insurance business represented by Babson Capital Management LLC (the "lender") whereby Trans-Union issued $35.0 million in aggregate principal amount of 3.97% Senior Secured Notes ("Trans-Union Senior Notes") due December 31, 2032. Principal and interest on the Trans-Union Senior Notes were payable in installments on the last business day of each quarter beginning June 30, 2016 with the remaining balance payable in full on December 31, 2032. The average quarterly principal payment is approximately $0.5 million. The Trans-Union Senior Notes were issued at par and provided net proceeds of approximately $34.6 million after deducting related issuance cost of approximately $0.4 million. The Partnership assumed the Trans-Union Senior Notes following the Trans-Union acquisition on November 3, 2017. See Note 4. Acquisitions. The Trans-Union Senior Notes also required pledged accounts in which revenue is required to be deposited into these accounts and disbursements must be approved by the lender. As of December 31, 2018 and 2017, we had $6.8 million and $1.7 million, respectively in Restricted cash in our Consolidated Balance Sheets. The following table presents the carrying value and estimated fair value of our debt as of December 31, 2018 and December 31, 2017. Short-term and long-term debt are recorded at amortized cost in the Consolidated Balance Sheets.
The fair value of debt instruments are valued using a market approach based on quoted prices for similar instruments traded in active markets and are classified as Level 2 within the fair value hierarchy. All financial instruments in the table above are classified as Level 2. The carrying value of amounts outstanding under the Credit Agreement approximates the related fair value, as interest charges vary with market rate conditions. Going Concern Assessment and Management’s Plans Pursuant to FASB ASC 205-40, Presentation of Financial Statements – Going Concern (Subtopic 205-40): Disclosure of Uncertainties About an Entity's Ability to Continue as a Going Concern, we are required to assess our ability to continue as a going concern for a period of one year from the date of the issuance of these consolidated financial statements. Substantial doubt about an entity’s ability to continue as a going concern exists when relevant conditions and events, considered in the aggregate, indicate that it is probable that the entity will be unable to meet its obligations as they become due within one year from the financial statement issuance date. As discussed above in AMID Revolving Credit Agreement, our Credit Agreement matures on September 5, 2019 and has not been renewed as of the date of the issuance of these consolidated financial statements. As discussed in Note 21. Related Party Transactions, on September 27, 2018, the Board received a non-binding proposal from Magnolia, an affiliate of ArcLight to acquire the common units that it does not already own. On March 17, 2019, we entered into the Merger Agreement and expect the Pending Merger to close in the second quarter of 2019. As the Merger Agreement is subject to customary closing conditions and because the Pending Merger may affect how, or if, the Partnership elects to obtain a maturity extension, management has deferred finalization of a renewal of the Credit Agreement. While we intend to renew or extend the terms of our Credit Agreement, until such time as we have executed an agreement to refinance or extend the maturity of our Credit Agreement, we cannot conclude that it is probable we will do so, and accordingly, this raises substantial doubt about our ability to continue as a going concern. |
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Convertible Preferred Units |
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| Convertible Preferred Units | Convertible Preferred Units Our convertible preferred units consist of the following (in thousands):
Affiliates of our General Partner hold and participate in quarterly distributions on our convertible preferred units, with such distributions being made in cash, paid-in-kind units or a combination thereof at the election of the Board. The convertible preferred unitholders have the right to receive cumulative distributions in the same priority and prior to any other distributions made in respect of any other partnership interests. To the extent that any portion of a quarterly distribution on our convertible preferred units to be paid in cash exceeds the amount of cash available for such distribution, the amount of cash available will be paid to our convertible preferred unitholders on a pro rata basis while the difference between the distribution and the available cash will accrue interest until paid. Series A-1 Convertible Preferred Units On April 15, 2013, the Partnership, our General Partner and AIM Midstream Holdings entered into agreements with HPIP, pursuant to which HPIP acquired 90% of our General Partner and all of our subordinated units from AIM Midstream Holdings and contributed the High Point System and $15.0 million in cash to us in exchange for 5,142,857 of our Series A-1 Units. Except as provided in the Partnership Agreement, the Series A-1 Units have voting rights that are identical to the voting rights of the common units and will vote with the common units as a single class, with each Series A-1 Unit entitled to one vote for each common unit into which such Series A-1 Unit is convertible. The Series A-1 Units receive distributions prior to distributions to our common unitholders. The distributions on the Series A-1 Units are equal to the greater of $0.4125 per unit or the declared distribution to common unitholders. The Series A-1 Units may be converted into common units on a one-to-one basis, subject to customary anti-dilutive adjustments, at the option of the unitholders on or any time after January 1, 2014. As of December 31, 2018, the conversion price was $13.66 and the conversion ratio was 1.281. The sale of the Series A-1 Units was exempt from registration pursuant to Rule 4(a)(2) under The Securities Act of 1933 (the "Act"). Upon any liquidation and winding up of the Partnership or the sale of substantially all of its assets, the holders of Series A-1 Units will generally be entitled to receive, in preference to the holders of any of the Partnership's other equity securities, but in parity with all convertible preferred units, an amount equal to the sum of $17.50 multiplied by the number of Series A-1 Units owned by such holders, plus all accrued but unpaid distributions on such Series A Units. Prior to the consummation of any recapitalization, reorganization, consolidation, merger, spin-off or other business combination in which the holders of common units are to receive securities, cash or other assets (a "Partnership Event"), we are obligated to make an irrevocable written offer, subject to consummation of the Partnership Event, to each holder of Series A Units to redeem all (but not less than all) of such holder's Series A-1 Units for a per unit price payable in cash as described in the Partnership Agreement. Upon receipt of such a redemption offer from us, each holder of Series A-1 Units may elect to receive such cash amount or a preferred security issued by the person surviving or resulting from such Partnership Event and containing provisions substantially equivalent to the provisions set forth in the Partnership Agreement with respect to the Series A-1 Units without material abridgement. As conversion is at the option of the holder and redemption is contingent upon a future event which is outside the control of the Partnership, the Series A-1 Units have been classified as mezzanine equity in our Consolidated Balance Sheets. Under the Partnership Agreement, distributions on Series A-1 Units can be made with paid-in-kind Series A-1 Units, cash or a combination thereof, at the discretion of the Board. At December 31, 2018, we accrued $2.8 million of contractual paid-in-kind distributions on the Series A-1 Units. Beginning with the quarter ending March 31, 2019 and all quarters thereafter, distributions on Series C Units must be made in cash. Under our Partnership Agreement, if we fail to pay distribution on the Series C in cash when due, we are prohibited from paying distributions on the Series A-1 Units in cash or in-kind. We do not expect to be able to pay a cash distribution on the Series C Units with respect to the quarter ending March 31, 2019. As a result, the Series A-1 Units will accrue arrearages with respect to unpaid distributions starting with the quarter ending March 31, 2019. Series A-2 Convertible Preferred Units On March 30, 2015 and June 30, 2015, we entered into two Series A-2 Convertible Preferred Unit Purchase Agreements with Magnolia, an affiliate of HPIP, pursuant to which the Partnership issued, in separate private placements, newly-designated Series A-2 Units (the “Series A-2 Units”) representing limited partnership interests in the Partnership. As a result, the Partnership issued a total of 2,571,430 Series A-2 Units for approximately $45 million in aggregate proceeds during the year ended December 31, 2015. The Series A-2 Units will participate in distributions of the Partnership along with common units in a manner identical to the existing Series A-1 Units (together with the Series A-2 Units, the "Series A Units"), with such distributions being made in cash or with paid-in-kind Series A Units at the election of the Board. On July 27, 2015, we amended our Partnership Agreement to grant us the right (the “Call Right”) to require the holders of the Series A-2 Units to sell, assign and transfer all or a portion of the then outstanding Series A-2 Units to us for a purchase price of $17.50 per Series A-2 Unit (subject to appropriate adjustment for any equity distribution, subdivision or combination of equity interests in the Partnership). We may exercise the Call Right at any time, in connection with our or our affiliate’s acquisition of assets or equity from ArcLight Energy Partners Fund V, L.P., or one of its affiliates, for a purchase price in excess of $100 million. We may not exercise the Call Right with respect to any Series A-2 Units that a holder has elected to convert into common units on or prior to the date we have provided notice of our intent to exercise the Call Right, and we may also not exercise the Call Right if doing so would result in a default under any of our or our affiliates’ financing agreements or obligations. As of December 31, 2018, the conversion price was $13.66 and the conversion ratio was 1.281. The sale of the Series A-2 Units was exempt from registration pursuant to Rule 4(a)(2) under the Securities Act. Upon any liquidation and winding up of the Partnership or the sale of substantially all of its assets, the holders of Series A-2 Units will generally be entitled to receive, in preference to the holders of any of the Partnership's other equity securities, but in parity with all convertible preferred units, an amount equal to the sum of $17.50 multiplied by the number of Series A-2 Units owned by such holders, plus all accrued but unpaid distributions on such Series A Units. As conversion is at the option of the holder and redemption is contingent upon a future event which is outside the control of the Partnership, the Series A-2 Units have been classified as mezzanine equity in our Consolidated Balance Sheets. Under the Partnership Agreement, distributions on Series A-2 Units can be made with paid-in-kind Series A-2 Units, cash or a combination thereof, at the discretion of the Board. At December 31, 2018, we accrued $1.2 million of contractual paid-in-kind distributions on the Series A-2 Units. Beginning with the quarter ending March 31, 2019 and all quarters thereafter, distributions on Series C Units must be made in cash. Under our Partnership Agreement, if we fail to pay distribution on the Series C in cash when due, we are prohibited from paying distributions on the Series A-2 Units in cash or in-kind. We do not expect to be able to pay a cash distribution on the Series C Units with respect to the quarter ending March 31, 2019. As a result, the Series A-2 Units will accrue arrearages with respect to unpaid distributions starting with the quarter ending March 31, 2019. Series C Convertible Preferred Units On April 25, 2016, the Partnership issued 8,571,429 of its Series C Units to an ArcLight affiliate in connection with the Emerald Transactions described in Note 4. Acquisitions. The Series C Units have voting rights that are identical to the voting rights of the common units and will vote with the common units as a single class on an as converted basis, with each Series C Unit initially entitled to one vote for each common unit into which such Series C Unit is convertible. The Series C Units also have separate class voting rights on any matter, including a merger, consolidation or business combination, that adversely affects, amends or modifies any of the rights, preferences, privileges or terms of the Series C Units. The Series C Units are convertible in whole or in part into common units at any time. The number of common units into which a Series C Unit is convertible will be an amount equal to the sum of $14.00 plus all accrued and accumulated but unpaid distributions, divided by the conversion price. The sale of the Series C Units was exempt from registration pursuant to Rule 4(a)(2) under the Securities Act. In the event that the Partnership issues, sells or grants any common units or convertible securities at an indicative per common unit price that is less than $14.00 per common unit (subject to customary anti-dilution adjustments), then the conversion price will be adjusted according to a formula to provide for an increase in the number of common units into which Series C Units are convertible. As of December 31, 2018, the conversion price was $13.98 and the conversion ratio was 1.001. Prior to consummating any recapitalization, reorganization, consolidation, merger, spin-off or other business combination in which the holders of common units are to receive securities, cash or other assets, we are obligated to make an irrevocable written offer, subject to consummating the Partnership Event, to the holders of Series C Units to redeem all (but not less than all) of the Series C Units for a price per Series C Unit payable in cash as described in the Partnership Agreement. Upon receipt of a redemption offer, each holder of Series C Preferred Units may elect to receive the cash amount or a preferred security issued by the person surviving or resulting from the Partnership Event and containing provisions substantially equivalent to the provisions set forth in the Partnership Agreement with respect to the Series C Preferred Units without material abridgement. Upon any liquidation and winding up of the Partnership or the sale of substantially all of the assets of the Partnership, the holders of Series C Units generally will be entitled to receive, in preference to the holders of any of the Partnership's other equity securities but in parity with all convertible preferred units, an amount equal to the sum of the $14.00 multiplied by the number of Series C Units owned by such holders, plus all accrued but unpaid distributions. Distributions on Series C Units can be made with paid-in-kind Series C Units, cash or a combination thereof, at the discretion of the Board and upon the consent of the holders of the Series C Units for the quarters through and including the quarter ended December 31, 2018. At December 31, 2018, we accrued $3.5 million of contractual paid-in-kind distributions on the Series C Units. With respect to quarter ending March 31, 2019 and all quarters thereafter, distributions on Series C Units must be made in cash. As a result of the Second Amendment, the Series C Units will accrue arrearages with respect to unpaid distributions starting with the quarter ending March 31, 2019. We do not expect to be able to pay a cash distribution on the Series C Units with respect to the quarter ending March 31, 2019. In connection with the issuance of the Series C Units, the Partnership issued to the holders (the "Series C Warrant"). The Series C Warrant is subject to standard anti-dilution adjustments and is exercisable for a period of seven years. On April 25, 2017, the number of common units that may be purchased pursuant to the exercise of the Series C Warrant was adjusted by an amount, rounded to the nearest whole common unit, equal to the product obtained by the following calculation: (i) 400,000 multiplied by (ii) (A) the Series C Issue Price (as defined in the Series C Warrant) multiplied by the number of Series C Units then outstanding less $45.0 million divided by (B) the Series C Issue Price multiplied by the number of Series C Units issued, less $45.0 million. As a result of such adjustment, the number of common units that can be purchased upon the exercise of the Series C Warrant increased by 416,485 common units. Any Series C Units issued in-kind as a distribution to holders of Series C Units (“Series C PIK Units”) will increase the number of common units that can be purchased upon exercise of the Series C Warrant by an amount, rounded to the nearest whole common unit, equal to the product obtained by the following calculation: (i) the total number of common units into which each Series C Warrant may be exercised immediately prior to the most recent issuance of the Series C PIK Units multiplied by (ii) (A) the total number of outstanding Series C Units immediately after the most recent issuance of Series C PIK Units divided by (B) the total number of outstanding Series C Units immediately prior to the most recent issuance of Series C PIK Units. As of December 31, 2018, the number of common units that can be purchased upon the exercise of the Series C Warrant increased to 1,291,869 common units. The fair value of the Series C Warrant was determined using a market approach that utilized significant inputs which are not observable in the market and thus represent a Level 3 measurement as defined by ASC No. 820 – Fair Value Measurement. The estimated fair value of $4.41 per warrant unit was determined using a Black-Scholes model and the following significant assumptions: i) a dividend yield of 18%, ii) common unit volatility of 42% and iii) the seven-year term of the warrant to arrive at an aggregate fair value of $4.5 million. As conversion is at the option of the holder and redemption is contingent upon a future event which is outside the control of the Partnership, the Series C Units have been classified as mezzanine equity in our Consolidated Balance Sheets. Series D Convertible Preferred Units On October 31, 2016, Partnership issued 2,333,333 shares of its newly-designated Series D Units to an ArcLight affiliate at a price of $15.00 per unit, less a 1.5% closing fee, in connection with the Delta House transaction described in Note 4. Acquisitions. The fair value of the conditional Series D Warrant at the time of issuance was immaterial. On October 2, 2017, pursuant to the terms of our Partnership Agreement, we exercised our call right to repurchase all of the 2,333,333 outstanding Series D Units from Magnolia for approximately $37.0 million in cash, which was funded through our Credit Agreement. Of this amount, approximately $2.5 million was associated with the dividend distribution associated with Series D Units, as reported in line item Distributions in our Consolidated Statement of Cash Flows. After the closing date of such redemption, which occurred on October 2, 2017, there were no more outstanding Series D Units. |
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| Partners' Capital | Partners' Capital American Midstream Outstanding Units The following table presents unit activity (in thousands):
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Our capital accounts are comprised of approximately 1.3% notional General Partner interest and 98.7% limited partner interests as of December 31, 2018. Our limited partners have limited rights of ownership as provided for under our Partnership Agreement and the right to participate in our distributions. Our General Partner manages our operations and participates in our distributions, including certain incentive distributions pursuant to the incentive distribution rights that are non-voting limited partner interests held by our General Partner. Pursuant to our Partnership Agreement, our General Partner participates in losses and distributions based on its interest. The General Partner's participation in the allocation of losses and distributions is not limited and therefore, such participation can result in a deficit to its respective capital account. As such, allocation of losses and distributions for previous transactions between entities under common control have resulted in a deficit to the General Partner's capital account included in our Consolidated Balance Sheets. Series B Convertible Preferred Units Effective January 31, 2014, the Partnership issued 1,168,225 Series B Units to its General Partner in exchange for approximately $30.0 million to fund a portion of the Lavaca acquisition. The Series B Units participated in distributions of the Board along with common units, with such distributions being made in cash distributions or with paid-in-kind Series B Units at the election of the Partnership. The Series B Units were issued in a private placement in reliance upon an exemption from registration pursuant to Section 4(a)(2) of the Securities Act and the safe harbor provided by Rule 506 of Regulation D promulgated thereunder. On February 1, 2016, all outstanding Series B Units were converted on a one-for-one basis into common units. Equity Offerings In October 2015, the Partnership and certain of its affiliates entered into an agreement with a group of investment banks under which it may issue up to $100.0 million of its common units in at the market (“ATM”) offerings. During 2016, the Partnership issued 248,561 common units under this program resulting in net proceeds of $2.9 million after deducting related offering costs of $0.3 million. The net proceeds were used to repay amounts outstanding under the Credit Agreement. At December 31, 2016, $96.8 million remained available under the ATM program. There were no offerings under the ATM program in 2018 or 2017. General Partner Units In order to maintain its ownership percentage, we received proceeds of $0.1 million from our General Partner as consideration for the issuance of additional notional 16,326 general partner units for the year ended December 31, 2018, proceeds of $4.0 million from our General Partner as consideration for the issuance of additional notional 284,886 general partner units for the year ended December 31, 2017, and proceeds of $2.0 million from our General Partner as consideration for the issuance of 143,900 additional notional general partner units for the year ended December 31, 2016. Distributions Preferred Units Under the Partnership’s agreement of limited partnership, the Partnership is obligated to pay cumulative distributions each quarter on the Series A preferred units (which consists of the Series A-1 and A-2) and Series C preferred units in an amount equal to the greater of $0.4125, or the distribution declared on the common units. As such, the distributions are accrued at each quarter-end (the “reporting quarter”) based on the subsequent Board approval of the distribution method (in the “subsequent quarter”), which may be settled in cash or paid-in-kind (“PIK”) units. To the extent the distribution is to be settled in cash, the distributions are accrued in the reporting quarter and the cash is paid in the subsequent quarter. To the extent the distribution is to be settled in PIK units, the distribution is recognized directly to equity in the reporting quarter. Limited Partner Units (Common Units) The following table reflects distributions declared and paid through December 31, 2018 (in thousands, except per unit data):
As a result of the Second Amendment, we are not permitted to declare or make any cash distributions to our unitholders until our consolidated total leverage ratio is reduced to less than 5.00:1.00, as shown in the compliance certificate required to be delivered together with audited consolidated financial statements for the most recently completed fiscal year and unaudited consolidated financial statements for the most recently completed quarter. Therefore, the Credit Agreement prohibited us from making any cash distributions on our common units with respect to the fourth quarter of 2018. The minimum quarterly distribution, as defined in our partnership agreement, is $0.4125 per common unit per quarter, or $1.65 on an annualized basis. If, in any quarter, we distribute less than the minimum quarterly distribution on each common unit, then our common unitholders accumulate arrearages based on the number of initial public offering ("IPO") common units. We have 3.8 million IPO common units outstanding. The accumulated arrearages are equal to (a) the sum of the deficit between the quarterly distribution paid and the minimum quarterly distribution on all common units issued in our IPO (b) divided by the number of common units outstanding as of the end of such quarter. As we have more common units outstanding than were issued in the initial public offering, the arrearages associated with each common unit will be less than the deficit between the quarterly distribution paid on such common unit and the minimum quarterly distribution. Accumulated arrearages must be paid before any distribution will be made on our incentive distribution rights. As such, they give common unitholders a priority right to distributions, but, unlike arrearages on a debt instrument, do not create a liquidated payment obligation. At December 31, 2018, we had accumulated arrearages totaling $2.3 million. During the years ended December 31, 2018, 2017 and 2016, we made the following distributions (in thousands):
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Fair Value Determination of PIK of Preferred Units The fair value of the paid-in-kind distributions was determined using the market and income approaches, requiring significant inputs which are not observable in the market and thus represent Level 3 measurements as defined by ASC 820. Under the income approach, the fair value estimates for all years presented were based on i) present value of estimated future contracted distributions, ii) option values ranging from $0.02 per unit to $3.86 per unit using a Black-Scholes model, iii) assumed discount rates ranging from 5.57% to 10.0% and iv) assumed growth rates of 1.0%. |
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Net Loss per Limited Partner Unit |
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| Earnings Per Share [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Net Loss per Limited Partner Unit | Net Loss per Limited Partner Unit As discussed in Note 4. Acquisitions, the JPE Merger on March 8, 2017 was a combination between entities under common control. As a result, prior periods were retrospectively adjusted to furnish comparative information. Accordingly, the prior period earnings combining both entities were allocated among our General Partner and common unitholders assuming JPE units were converted into our common units in the comparative historical periods. Net income (loss) is allocated to the General Partner and the limited partners in accordance with their respective ownership percentages, after giving effect to distributions on our convertible preferred units and General Partner units, including any accrued arrearages. Unvested unit-based compensation awards that contain non-forfeitable rights to distributions (whether paid or unpaid) are classified as participating securities and are included in our computation of basic and diluted net limited partners' net income (loss) per common unit. Basic and diluted limited partners' net income (loss) per common unit is calculated by dividing limited partners' interest in net income (loss) by the weighted average number of outstanding limited partner units during the period. The calculation of basic and diluted limited partners' net loss per common unit is summarized below (in thousands, except per unit amounts):
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Incentive Compensation |
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| Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Incentive Compensation | Incentive Compensation Overview Our General Partner manages our operations and activities and employs the personnel who provide support to our operation. Unit-based awards, which are available on a limited basis, or other types of incentive compensation such as our Defined Contribution Plan, which is available to all employees, are designed to retain, motivate and reward talented employees and key management personnel. Unit-Based Compensation Plans All equity-based awards issued under the Long-Term Incentive Plan consist of phantom units, distribution equivalent rights ("DER"), option grants or performance-based awards. DERs, options and performance-based awards have been granted on a limited basis. Future awards may be granted at the discretion of the Compensation Committee of our Board (the "Compensation Committee") and subject to approval by the Board. On November 19, 2015, the Board approved the Third Amended and Restated Long-Term Incentive Plan to, among other things, increase the number of common units authorized for issuance by 6,000,000 common units. On February 11, 2016, the unitholders approved the Third Amended and Restated Long-Term Incentive Plan (as amended and in effect as of the date hereof, the "LTIP"). After March 8, 2017, pursuant to the JPE Merger, we assumed the JP Energy Partnership 2014 Long-Term Incentive Plan, which was renamed the American Midstream Partners, LP Amended and Restated 2014 Long Term Incentive Plan (the “Assumed LTIP”). As of December 31, 2018 and 2017, there were 151,845 common units available for awards under the Assumed LTIP, as adjusted to reflect the JPE Merger. We settle the existing awards made under the Assumed LTIP with the common units reserved under the Assumed LTIP. See JPE Unit-Based Compensation below for detailed information. At December 31, 2018, 2017 and 2016, there were 3,958,593, 4,134,412 and 5,017,528 common units, respectively, available for future grants under the LTIP. Phantom Unit Awards. Ownership in the phantom unit awards is subject to forfeiture until the vesting date. The LTIP is administered by the Compensation Committee, which at its discretion, may elect to settle such vested phantom units with a number of common units equivalent to the fair market value at the date of vesting in lieu of cash. Although our General Partner has the option to settle vested phantom units in cash, our General Partner has not historically settled these awards in cash. Under the LTIP, phantom units typically vest in increments of 25% on each grant anniversary date and do not contain any vesting requirements other than continued employment. The following table summarizes activity in our phantom unit-based awards for the years ended December 31, 2018, 2017 and 2016 (in thousands, except per unit data):
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The fair value of our phantom units, which are subject to equity classification, is derived from the fair value of our common units at the grant date. Fair value of phantom units is calculated based on either a) the market price of underlying units on the date of grant, less the estimated life time (vesting period)'s dividend distribution, if the phantom units have a restricted feature associated with the distribution or b) the market price of underlying units on the date of grant. Compensation expense related to these phantom unit based awards for the years ended December 31, 2018, 2017 and 2016 was $3.4 million, $7.9 million and $3.6 million, respectively, and is included in Corporate expenses and Direct operating expenses in our Consolidated Statements of Operations and the Equity compensation expense in our Consolidated Statements of Changes in Equity, Partners' Capital and Noncontrolling Interests. The total fair value of units at the time of vesting was $3.5 million, $9.8 million and $2.4 million for the years ended December 31, 2018, 2017 and 2016, respectively. Equity compensation expense related to unvested phantom awards not yet recognized at December 31, 2018 was $6.9 million and the weighted average period over which this expense is expected to be recognized as of December 31, 2018 is approximately 3.3 years. Performance and Service Condition Awards. In November 2015, the Board modified awards that introduced certain performance and service conditions that were probable of being achieved, amounting to $2.0 million payable to certain employees. During the third quarter of 2016, we settled $1.0 million of the obligation in cash while in the fourth quarter of 2016, forfeitures reduced the total payable amount from $2.0 million to $1.5 million. Compensation expense related to these awards for the years ended December 31, 2018, 2017 and 2016 was under $0.1 million, $0.2 million and $0.9 million, respectively, and is included in Direct operating expenses in our Consolidated Statements of Operations. Option to Purchase Common Units. In December 2015, the Board approved the grant of an option to purchase 200,000 common units at an exercise price per unit equal to $7.50. The grant vested on January 1, 2019, subject to acceleration in certain circumstances, and will expire on March 15th of the calendar year following the calendar year in which it completely vests or March 15, 2020. In August 2016, the Board approved the grant of an option to purchase 30,000 common units at an exercise price per unit equal to $12.00. The grant will vest on July 31, 2019, subject to continued employment, and will expire on July 31st of the calendar year following the calendar year in which it vests. In September 2016, the Board approved the grant of options to an executive to purchase 45,000 common units of the Partnership at an exercise price per unit equal to $13.88. The options were to vest at a rate of 25% per year and to expire on September 30th of the calendar year following the calendar year in which they completely vest. Such options were forfeited during 2017. In April 2017, the Board approved the grant of options to purchase 15,000 common units of the Partnership at an exercise price per unit equal to $14.85. The options will vest over four years at a rate of 25% per year. The options will expire on April 30th of the calendar year following the calendar year in which they completely vest. The Black-Scholes pricing model was used to determine the fair value of our option grants using the following assumptions:
The weighted average unit price volatility was based upon the historical volatility of our common units. The expected distribution yield was based on an annualized distribution divided by the closing unit price on the date of grant. The risk-free rate was based on the U.S. Treasury yield curve in effect on the date of grant with a term equivalent to the vesting period. Compensation expense related to these option awards was not material for the years ended December 31, 2018, 2017 and 2016, and unamortized costs related to unvested option awards was not material at December 31, 2018 and 2017. The following table summarizes our option activity for the years ended December 31, 2018 and 2017:
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Performance Based Awards. In November 2017, the Board approved the grant of 524,000 performance based awards ("PSUs") to create a highly accretive, long-term retention tool to key personnel whom management expects to drive performance over the long-term. The awards will vest on November 20, 2022, subject to acceleration in certain circumstances. A Monte-Carlo pricing model was used to determine the fair value of our grants using the following assumptions:
The following table summarizes our performance-based awards activity for the years ended December 31, 2018 and 2017:
The compensation expense related to these PSU awards for the years ended December 31, 2018 and 2017 was $0.9 million and $0.1 million, respectively. Compensation expense related to the unvested PSU awards not yet recognized was $3.8 million and $6.2 million as of December 31, 2018 and 2017, respectively. JPE Unit-Based Compensation Long-Term Incentive Plan and Phantom Units. The Assumed LTIP authorized grants of up to 3,642,700 common units. Phantom units issued under the Assumed LTIP were primarily composed of two types of grants: (1) service condition grants with vesting over three years in equal annual installments; and (2) service condition grants with cliff vesting on April 1, 2018. Distributions related to these unvested phantom units are paid concurrent with our distribution for common units. The fair value of phantom units issued under the Assumed LTIP was determined by utilizing the market value of our common units on the respective grant date. As disclosed in Phantom Unit Awards above, the 312,992 phantom units outstanding as of December 31, 2016, under the Assumed LTIP were converted to phantom units under the LTIP. As a result of the JPE Merger, certain JPE unit-based awards have been modified for JPE employees who stayed for the transition period. Such awards with a vest date of April 1, 2018 have been modified over the requisite service period to their respective target completion dates of April 8, 2017, May 31, 2017, July 14, 2017 or September 8, 2017. The incremental fair value of the modified awards which was recorded prospectively within 2017 was based on the conversion ratio (of JPE phantom units to the Partnership's units) multiplied by the Partnership's unit price on the date immediately preceding the acquisition date of March 8, 2017 of $16.45. The total fair value of JPE modified awards was approximately $1.5 million and was expensed in the year ended December 31, 2017. Total unit-based compensation expense related to the Assumed LTIP was $1.7 million for the year ended December 31, 2016, which was recorded in Corporate expenses in our Consolidated Statements of Operations. The unit-based compensation expense related to the Assumed LTIP for the year ended December 31, 2017 was included in the total phantom unit-based compensation for the year ended December 31, 2017, as discussed in Phantom Unit Awards above. Defined Contribution Plan We have an employee savings plan (the "401(k) Plan") under Section 401(k) of the Internal Revenue Code of 1986, as amended, whereby employees of our General Partner may contribute a portion of their base compensation to the employee savings plan, subject to limits. We provide a matching contribution each payroll period equal to 100% of the employee's contribution up to the lesser of 6% of the employee's eligible compensation or $16,200 annually for the period. The matching contribution vests immediately upon eligibility, which is defined as first day of employment. As a result of the JPE Merger, the 401(k) Plan of JPE is included in our consolidated financial statements for the periods presented. The following table summarizes information regarding contributions and the expense recognized for the matching contributions, which is included in operating and maintenance expense and general and administrative expense in our statements of operations (in thousands):
Cash Retention Plan On September 2, 2018, the Partnership implemented a long-term cash retention award for all employees holding RSU’s under the Partnership’s LTIP. At each future vesting date of time-based unvested phantom units outstanding on July 28, a cash award in the amount of $6.00 per phantom unit will also be earned. Outstanding PSU’s are not subject to the cash retention award. The expense associated with this award will be recognized over the service period. For the year ended December 31, 2018, approximately $3.6 million related to this plan was included in Corporate expenses in the Consolidated Statements of Operations. At December 31, 2018, remaining unamortized expense was $5.1 million. |
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| Income Tax Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Income Taxes | Income Taxes With the exception of our Marine Products, which was sold in the third quarter of 2018, the Partnership is not subject to U.S. federal or state income taxes as such income taxes are generally borne by our unitholders through the allocation of our taxable income (loss) to them. The state of Texas does impose a franchise tax that is assessed on the portion of our taxable margin, which is apportioned to Texas. Income tax expense (benefit) for the years ended December 31, 2018, 2017 and 2016 is as follows (in thousands):
A reconciliation of our expected income tax expense calculated at the U.S. federal statutory rate of 21% for the year ended December 31, 2018, and 34% for the years ended December 31, 2017 and 2016 to our actual tax expense is as follows (in thousands, except percentages):
The Partnership’s deferred tax assets and liabilities as of December 31, 2018 and 2017 are summarized below (in thousands):
On December 22, 2017, the United States enacted the Tax Act. Among a number of significant changes to the current U.S. federal income tax rules, the Tax Act reduces the marginal U.S. corporate income tax rate from 34 percent to 21 percent, limits the current deduction for net interest expense, limits the use of net operating losses to offset future taxable income and provides for full expense deduction for certain business capital expenditures for 2018 and subsequent years. The tax rates used in calculating deferred income taxes reflect the enacted tax law. We recognize the tax benefits from uncertain tax positions if it is more likely than not that the position will be sustained on examination by the taxing authorities. As of December 31, 2018, we have not recognized tax benefits relating to uncertain tax positions. The preparation of our income tax returns requires the use of management's estimates and interpretations which may be subjected to review by the respective taxing authorities and may result in an assessment of additional taxes, penalties and interest. Tax years subsequent to 2012 remain subject to examination by federal and state taxing authorities. |
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Commitments and Contingencies |
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| Commitments and Contingencies Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Commitments and Contingencies | Commitments and Contingencies Contingencies Legal proceedings While we are not currently party to any pending litigation or governmental proceedings that we believe are likely to materially affect our financial condition or results of operations, we are party to certain routine litigation and other proceedings incidental to the conduct of our business that could impact items required to be presented in our consolidated financial statements in a manner that may nonetheless be deemed quantitatively material for GAAP reporting purposes. Moreover, the outcomes of these litigation matters may vary from management’s estimates or amounts that have previously been accrued or reserved. American Midstream Permian, LLC ("AMP") and Ajax Resources, LLC (“Ajax”) were parties to a Gas Processing and Gathering Agreement, dated October 1, 2013, pursuant to which AMP’s Yellow Rose System gathered and processed Ajax’s production from its dedicated acreage in the Permian Basin (the "Ajax Agreement"). On June 13, 2016, the Partnership filed a Petition, Application for Temporary Restraining Order and Temporary Injunction in District Court for Harris County, Texas (the "Petition") seeking to enjoin Ajax from terminating the Ajax Agreement. On December 13, 2017, Ajax sent the Partnership a notice stating that following an audit conducted pursuant to the Ajax Agreement, it concluded that the Partnership underpaid Ajax during the period between January 2015 and May 2017, and Ajax requested that the Partnership pay for the alleged damages. On September 25, 2018, Ajax filed an answer and counterclaim to the Petition asserting that the Partnership breached the Ajax Agreement with Ajax and is seeking damages in the amount of $4.7 million plus attorneys’ fees. On October 23, 2018, AMP and Ajax agreed to settle this matter, and the Partnership made a $2.0 million payment to Ajax in exchange for Ajax’s release of all claims against the Partnership. On October 29, 2018, the court issued an order granting amended Joint Motion for Dismissal with Prejudice. We are also currently a defendant and counter-claimant in litigation styled Rainbow Energy Marketing, Inc. v. American Midstream (Alabama Intrastate), LLC filed on April 12, 2017 in the District Court, 157th Judicial District, in Harris County, Texas relating to a gas transportation agreement (the "Rainbow Agreement") between Rainbow Energy Marketing, Inc. (“Rainbow”) and American Midstream (Alabama Intrastate), LLC (“AMID AL”), one of our wholly-owned subsidiaries. Rainbow filed a complaint alleging AMID AL breached the Rainbow Agreement and claiming damages of approximately $6.6 million, together with attorney's fees. AMID AL filed a counterclaim, seeking to recover approximately $1.3 million in unpaid receivables under this agreement. We believe the facts in this matter support our defense against Rainbow’s claim and our right to recover our unpaid receivables, and we intend to both vigorously defend and prosecute our rights in this matter. At December 31, 2018, we have not reserved for any portion of our unpaid receivables. Environmental matters We are subject to federal and state laws and regulations relating to the protection of the environment. Environmental risk is inherent in our operations and we could, at times, be subject to environmental cleanup and enforcement actions. We attempt to manage this environmental risk through appropriate environmental policies and practices to minimize any impact our operations may have on the environment. Exit and disposal costs On March 9, 2016, management committed to a corporate headquarters relocation plan and communicated that plan to the impacted employees. The plan included relocation assistance or one-time termination benefits for employees who rendered service until their respective termination dates. Charges associated with these termination benefits, which totaled $9.1 million were recognized ratably over the requisite service period and are presented in Corporate expenses in our Consolidated Statements of Operations. As part of the JPE Merger on March 8, 2017, management of JPE communicated to its employees a severance plan. The plan includes termination benefits in the form of severance and accelerated vesting of phantom units for employees who rendered service through their respective termination date. As of December 31, 2018, no liability remains related to this plan. Commitments The Partnership had the following non-cancelable contractual commitments as of December 31, 2018 (in thousands):
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For the years ended December 31, 2018, 2017 and 2016, total rental expenses were $11.8 million, $12.6 million and $15.9 million, respectively. The reduction in rental expense observed in 2017 was primarily associated with our divested Propane Business. |
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Related-Party Transactions |
12 Months Ended |
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| Related Party Transactions [Abstract] | |
| Related-Party Transactions | Related-Party Transactions To the extent applicable, our discussion below includes the nature of our relationship and activities that we had with our Related Parties, as defined and required by ASC No. 850 – Related Party Disclosures, in the year ended December 31, 2018 and comparative periods, if applicable. Balances associated with our investments in unconsolidated affiliates are disclosed in Note 11. Investments in unconsolidated affiliates. Blackwater Midstream Holdings, LLC In December 2013, we acquired Blackwater Midstream Holdings, LLC (“Blackwater”) from an affiliate of ArcLight. The acquisition agreement included a provision whereby an ArcLight affiliate would be entitled to an additional $5.0 million of merger consideration based on Blackwater meeting certain operating targets. During the fourth quarter of 2018, we determined that the operating targets had been met and on December 10, 2018, we issued 810,517 common units to an affiliate of ArcLight, in addition to approximately $0.1 million in cash, as complete satisfaction of the earn-out obligation. Republic Midstream, LLC We charged Republic Midstream, LLC (“Republic”), an entity owned by ArcLight, a monthly fee of approximately $0.1 million through September 2017, the termination date of the services agreement with Republic. The monthly fee reduced the Corporate expenses in our Consolidated Statements of Operations by $1.0 million for the year ended December 31, 2017. As of December 31, 2018 and 2017, we had a receivable balance due from Republic of zero and $0.8 million, respectively. We also performed certain management services for Republic in exchange for a monthly fee of approximately $75,000. In September 2016, this monthly fee decreased to approximately $40,000 before ceasing in November 2016. For the year ended December 31, 2016, we charged a yearly fee of $0.7 million to Republic for these services. During 2016, we performed crude transportation and marketing services for Republic. We charged $3.2 million for the year ended December 31, 2016, for these crude transportation and marketing services. Truman Arnold Companies ("TAC") As a result of our acquisition of the North Little Rock, Arkansas refined product terminal in November 2012, TAC owned common and subordinated units in the Partnership. In addition, Mr. Greg Arnold, President and CEO of TAC, was also a director of our General Partner and owned a 5% equity interest in our General Partner through October 2016. Our refined products terminals and storage segment sold refined products to TAC during 2016. For the year ended December 31, 2016, our revenue from TAC was $0.2 million. The Partnership’s Propane Marketing Services segment, which was sold in third quarter of 2017, also purchased refined products from TAC. For the years ended December 31, 2016, the Partnership paid $1.0 million for refined product purchases from TAC. Magnolia Infrastructure Holdings, LLC On September 27, 2018, the Board received a non-binding proposal from Magnolia, pursuant to which Magnolia, or one of its affiliates, would acquire all common units of the Partnership that Magnolia and its affiliates do not already own in exchange for $6.10 per common unit. On January 2, 2019, the Board received a revised non-binding proposal from Magnolia, pursuant to which Magnolia, or one of its affiliates, would acquire all common units of the Partnership that Magnolia and its affiliates do not already own for $4.50 per common unit. The decrease from $6.10 per common unit in the original offer is due to the decline in the U.S. financial, merger and acquisition, and commodity markets. For further discussion of the Pending Merger and Merger Agreement, see Note 25. Subsequent Events. General Partner During the years ended December 31, 2018 and 2017, our General Partner paid $31.8 million and $46.3 million, respectively, related to Corporate overhead support which was presented as part of the contribution line item in Cash flows from financing activities in our Consolidated Statements of Cash Flows. As of December 31, 2018 and 2017, we had $10.1 million and $6.5 million, respectively, of accounts payable due to our General Partner, which has been recorded in Accrued expenses and other current liabilities in our Consolidated Balance Sheets and relates primarily to compensation. This payable/receivable is generally settled on a quarterly basis. Included in the $31.8 million of Corporate overhead support for the year ended December 31, 2018, discussed above, is $21.9 million related to the March 11, 2018, Capital Contribution Agreement (the “Capital Contribution Agreement”) between the Partnership and Magnolia to provide additional capital and overhead support to us during the first three quarters of 2018 in connection with temporary curtailment of production flows at Delta House. Pursuant to the Capital Contribution Agreement, Magnolia agreed to provide quarterly capital contributions, in an amount to be agreed, up to the difference between the actual cash distribution received by us on account of our interest in Delta House and the quarterly cash distribution expected to be received had the production flows to Delta House not been curtailed. Additionally, ArcLight , which controls the General Partner of the Partnership, has confirmed its intent to provide financial support for the Partnership to maintain compliance with the covenants contained in the Credit Agreement through April 10, 2019. See further discussion in Note 14. Debt Obligations. In connection with our acquisition of JPE on March 8, 2017, our General Partner agreed to provide quarterly financial support up to a maximum of $25.0 million. The financial support was to continue for eight (8) consecutive quarters following the closing of the acquisition, or earlier, until $25.0 million in support has been provided. As of December 31, 2017, we had utilized the full $25.0 million of the financial support and received $15.2 million. The remaining $9.8 million was received in the first quarter of 2018. Separate from the financial support described above, an ArcLight affiliate agreed to reimburse us for some expenses associated with the JPE transaction. The total amounts reimbursed to us under this arrangement was $9.6 million for the year ended December 31, 2017, and was treated as a deemed contribution from ArcLight. In addition, our General Partner also agreed to absorb $17.6 million corporate overhead expenses, which were incurred by and reimbursed to us in 2017. This amount plus the $15.2 million and $9.6 million received in relation to JPE related financial support and the $3.9 million received related to the General Partner’s ownership percentage for 2017, totaled approximately $46.3 million which was presented as part of the contribution line in Cash flows from financing activities in our Consolidated Statements of Cash Flows. During the year ended December 31, 2016, our General Partner agreed to absorb $9.0 million of corporate overhead expenses incurred by us and not pass such expense through to us. We received reimbursements for these expenses from our General Partner in the quarters subsequent to when they were incurred, which was $7.5 million for the year ended December 31, 2016. In addition, ArcLight reimbursed the Partnership for expenses we incurred for the year ended December 31, 2016. The total amounts paid on our behalf or reimbursed to us were $2.4 million for the year ended December 31, 2016, and were treated as deemed contributions from ArcLight. JP Development JP Development provided crude oil pipeline transportation services to our Mid-Continent Business. As a result of utilizing JP Development’s pipeline transportation services during the year ended December 31, 2016, we incurred pipeline tariff fees of $0.4 million. On February 1, 2016, we sold certain trucking and marketing assets in the Mid-Continent area to JP Development. The sales price was $9.7 million; which included certain adjustments related to inventory and other working capital items. During the year ended December 31, 2016, our General Partner agreed to absorb $9.0 million of corporate overhead expenses incurred by us and not pass such expense through to us. Transactions with our unconsolidated affiliates Destin and Okeanos On November 1, 2016, we became operator of the Destin and Okeanos pipelines and entered into operating and administrative management agreements under which the affiliates pay a monthly fee for general and administrative services provided by us. In addition, the affiliates reimburse us for certain transition related expenses. For the years ended December 31, 2018 and 2017, we recognized $2.6 million and $2.5 million, respectively, of management fee income. As of December 31, 2018 and 2017, we had an outstanding accounts receivable balance of less than $0.1 million and $0.9 million, respectively. Delta House OGL For the years ended December 31, 2018 and 2017, we recognized $0.8 million and $0.4 million, respectively, from Delta House OGL primarily from revenues generated under operating lease arrangements. We did not recognize any revenue during the year ended December 31, 2016. We had no outstanding accounts receivable balance from Delta House OGL related to these revenues as of December 31, 2018. As of December 31, 2017, we had outstanding accounts receivable of $0.3 million. AmPan Prior to August 8, 2017, AmPan was a 60%-owned subsidiary of ours which is consolidated for financial reporting purposes. Panther was the 40% non-controlling interest owner of AmPan. Pursuant to a related party agreement which began in the second quarter of 2016, POGS provided management services to AmPan in exchange for related fees, which in 2016 totaled $0.8 million of Direct operating expenses and $0.4 million of Corporate expenses in our Consolidated Statements of Operations. During January 1, 2017 to August 7, 2017, such management services totaled approximately $0.9 million of Direct operating expenses in our Consolidated Statements of Operations. Effective August 8, 2017, AmPan and POGS became our wholly-owned consolidated subsidiaries. See Note 4. Acquisitions. Consolidated Asset Management Services, LLC ("CAMS") Dan Revers, a director of our General Partner, indirectly owns in excess of 10% of CAMS, which, through various subsidiaries or affiliates, provides us pipeline integrity services and subleases an office space from us. During fiscal years 2018, 2017 and 2016, we incurred expenses from CAMS of $0.6 million, $0.4 million and $0.3 million, respectively. We received sublease income of less than $0.1 million for each of the years ended December 31, 2018, 2017 and 2016. As of December 31, 2018 and 2017, we had an outstanding accounts payable balance of less than $0.1 million for both periods. Other Related Party Transactions Michael D. Rupe, the brother of Ryan Rupe (the Partnership’s Vice President - Natural Gas Services and Offshore Pipelines), is the Chief Financial Officer of CIMA Energy Ltd., a crude oil and natural gas marketing company (“CIMA”). We regularly engage in purchases and sales of crude oil and natural gas with CIMA. During fiscal years 2018, 2017 and 2016, we incurred expenses from CIMA of $3.7 million, $5.3 million and $4.3 million, respectively, and recognized revenue from CIMA of $2.4 million, $8.0 million and $3.6 million in connection with such transactions, respectively. As of December 31, 2018 and 2017, we had outstanding receivable balance of $0.1 million in both periods. As of December 31, 2018 and 2017, we had an outstanding accounts payable balance of $36,065 and zero, respectively. During September and October 2017, we made payments on behalf of AMID Merger GP II, LLC related to the Propane Business sale totaling $2.5 million. As of December 31, 2018 and 2017, we had an outstanding accounts receivable balance of zero and $2.5 million, respectively. |
Supplemental Cash Flow Information |
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| Supplemental Cash Flow Elements [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Supplemental Cash Flow Information | Supplemental Cash Flow Information Supplemental cash flows and non-cash transactions consists of the following (in thousands):
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Reportable Segments |
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| Segment Reporting [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Reportable Segments | Reportable Segments During 2018, we operated our business through five reportable segments. Gas Gathering and Processing Services. Our Gas Gathering and Processing Services segment provides “wellhead-to-market” services to producers of natural gas and NGLs, which include transporting raw natural gas from various receipt points through gathering systems, treating the raw natural gas, processing raw natural gas to separate the NGLs from the natural gas, fractionating NGLs and selling or delivering pipeline quality natural gas and NGLs to various markets and pipeline systems. Liquid Pipelines and Services. Our Liquid Pipelines and Services segment provides transportation, purchase and sales of crude oil from various receipt points including lease automatic custody transfer (“LACT”) facilities and deliveries to various markets. Natural Gas Transportation Services. Our Natural Gas Transportation Services segment transports and delivers natural gas from producing wells, receipt points or pipeline interconnects for shippers and other customers, which include local distribution companies (“LDCs”), utilities, industrial, commercial and power generation customers. Offshore Pipelines and Services. Our Offshore Pipelines and Services segment gathers and transports natural gas and crude oil from various receipt points to other pipeline interconnects, onshore facilities and other delivery points. Terminalling Services. Our Terminalling Services segment provided above-ground leasable storage services at our marine terminals that supported various commercial customers, including commodity brokers, refiners and chemical manufacturers to store a range of products, including petroleum products, distillates, chemicals and agricultural products. During 2018, in order to improve operational alignment, we reorganized our reporting structure such that the operations of the following assets have been transferred between segments as follows:
These reporting changes do not impact our previously reported consolidated financial results, but our prior period segment results have been recast to reflect the changes. Subsequent to the dispositions of Refined Products and Marine Products, we eliminated the Terminalling Services segment and, we currently operate through the remaining four reportable segments. See further discussion of our dispositions in Note 5. Dispositions. Segment Gross Margin Our Chief Executive Officer serves as our Chief Operating Decision Maker and evaluates the performance of our reportable segments primarily on the basis of segment gross margin, which is our segment measure of profitability. We define segment gross margin for each segment as summarized below: Gas Gathering and Processing Services – total revenue plus unconsolidated affiliate earnings less unrealized gains (losses) on commodity derivatives, construction and operating management agreement income and less the cost of sales. Liquid Pipelines and Services – total revenue plus unconsolidated affiliate earnings less unrealized gains (losses) on commodity derivatives and construction and operating management agreement income less the cost of sales. Substantially all of our gross margin in this segment is fee-based or fixed-margin, with little to no direct commodity price risk. Natural Gas Transportation Services – total revenue plus unconsolidated affiliate earnings and construction and operating management agreement income less the cost of sales. Substantially all of our gross margin in this segment is fee-based or fixed-margin, with little to no direct commodity price risk. Offshore Pipelines and Services – total revenue plus unconsolidated affiliate earnings less the cost of sales. Substantially all of our gross margin in this segment is fee-based or fixed-margin, with little to no direct commodity price risk. Terminalling Services – total revenue less cost of sales and direct operating expense which includes direct labor, general materials and supplies and direct overhead. The following tables set forth our segment financial information for the periods indicated (in thousands):
Summarized in the table below is additional information per segment (in thousands):
The following table sets forth capital expenditures for the years ended December 31, 2018 and 2017, by segment (in thousands):
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Quarterly Financial Data (Unaudited) |
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| Quarterly Financial Information Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Quarterly Financial Data (Unaudited) | Quarterly Financial Data (Unaudited) Summarized unaudited quarterly financial data for 2018 and 2017 are as follows (in thousands, except per unit amounts):
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In addition, net (loss) from continuing operations, net of tax for the fourth quarter of 2018 has been reduced by approximately $7.8 million primarily due to an out-of-period adjustment recorded during the quarter related to an error in recording earnings in unconsolidated affiliates. This adjustment did not have a material impact to net income (loss) or segment gross margin for any period and had no impact to revenue or operating (loss) income. |
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Subsequent Event |
12 Months Ended |
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Dec. 31, 2018 | |
| Subsequent Events [Abstract] | |
| Subsequent Event | Subsequent Events Merger Agreement On March 17, 2019, we entered into the Merger Agreement with our General Partner, Proposed Parent, Proposed Merger Sub, and HPIP providing for the Proposed Merger. Upon the terms and subject to the conditions set forth in the Merger Agreement, the separate existence of Proposed Merger Sub will cease and the Partnership will survive and continue to exist as a Delaware limited partnership and direct subsidiary of our General Partner and Proposed Parent. If the Pending Merger is completed, each common unit outstanding immediately prior to the effective time of the Pending Merger, other than those held by Proposed Parent and its affiliates, will be converted into the right to receive $5.25 in cash, to be paid without interest and reduced by any applicable tax withholding. Upon completion of the transactions contemplated by the Merger Agreement, we will continue to exist as a limited partnership, but will no longer have publicly listed or traded units. Under the Partnership Agreement, the Pending Merger is required to be approved by a majority of the outstanding common units and preferred units, voting as a class, and each class of preferred units. Affiliates of ArcLight own approximately 51% of such voting power and prior to the execution of the Merger Agreement, affiliates of ArcLight delivered to the Partnership a written consent approving the Pending Merger. As such, the Pending Merger has been approved by the limited partners of the Partnership, and the Partnership will not hold a meeting of its unitholders to approve the merger. Credit Agreement Waiver We entered into a Letter Agreement (the "Waiver"), effective as of March 26, 2019, with a syndicate of lenders and Bank of America, N.A., as administrative agent, to waive certain covenants contained in the Credit Agreement that (i) require us to provide audited financial statements that are not subject to any “going concern” or like qualification or exception, or any qualification or exception as to the scope of such audit and (ii) limit our ability to report the existence of a material weakness in the Partnership's internal control over financial reporting (the “Financial Statements Audit Requirement”). Additionally, the Waiver extends the deadline under the Credit Agreement by which we are required to deliver to the administrative agent certain financial statements (the "Financial Statements Delivery Deadline"). Under the terms and conditions set forth in the Waiver, certain lenders (as required in our Credit Agreement) agreed to extend the Financial Statements Delivery Deadline to April 30, 2019. As the renewal or refinance of the Credit Agreement remains uncertain, the audited financial statements contained in this Form 10-K include a note regarding our ability to continue as a going concern. Prior to our entry into the Waiver, the existence of this going concern qualification in our audited financial statements would have constituted an event of default under the Credit Agreement. Pursuant to the Waiver, the administrative agent and certain lenders (as required by the Credit Agreement) have waived the Financial Statements Audit Requirement for the fiscal year ended December 31, 2018. Although we entered into the Waiver to address the event of default otherwise arising pursuant to the existence of a going concern note and material weakness exception in our audited financial statements contained in this Form 10-K, there is no guarantee that our lenders will agree to waive events of default or potential events of default in the future. |
Organization, Basis of Presentation and Summary of Significant Accounting Policies (Policies) |
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| Organization, Consolidation and Presentation of Financial Statements [Abstract] | |||||||||||||
| Nature of business | Nature of business We provide critical midstream infrastructure that links producers of natural gas, crude oil, NGLs, condensate and specialty chemicals to numerous intermediate and end-use markets. During 2018, we operated through five reportable segments: (i) Gas Gathering and Processing Services, (ii) Liquid Pipelines and Services, (iii) Natural Gas Transportation Services, (iv) Offshore Pipelines and Services and (v) Terminalling Services. For further discussion of our reporting segments see Note 23. Reportable Segments. Our primary assets are strategically located in some of the most prolific onshore and offshore producing regions and key demand markets in the United States. Our gathering and processing assets are primarily located in (i) the Permian Basin of West Texas, (ii) the Cotton Valley/Haynesville Shale of East Texas, (iii) the Eagle Ford Shale of South Texas, (iv) the Bakken Shale of North Dakota and (v) offshore in the Gulf of Mexico. Our transmission assets are in key demand markets in Oklahoma, Alabama, Arkansas, Louisiana, Mississippi and Tennessee. |
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| Basis of presentation | Basis of presentation As discussed in Note 4. Acquisitions, we acquired JP Energy Partners LP ("JPE") in a unit-for-unit exchange on March 8, 2017. As both the Partnership and JPE were controlled by ArcLight affiliates, the acquisition represented a transaction among entities under common control. Although the Partnership was the legal acquirer, JPE was considered the acquirer for accounting purposes as ArcLight obtained control of JPE on April 15, 2013 before it obtained control of the Partnership. The accompanying consolidated financial statements represent the JPE historical cost basis consolidated financial statements retrospectively adjusted to reflect its acquisition of the Partnership at ArcLight's historical cost bases effective April 15, 2013, the date on which ArcLight obtained control of the Partnership. |
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| Transactions between entities under common control | Transactions between entities under common control We may enter into transactions with ArcLight affiliates whereby we receive midstream assets or other businesses in exchange for cash or Partnership equity. As the transactions are between entities under common control we account for the net assets acquired at the affiliate's historical cost basis, whether the transactions are considered assets or business acquisitions. In certain cases, our historical consolidated financial statements will be revised to include the results attributable to the assets acquired from the later of April 15, 2013 (the date Arclight affiliates obtained control of our General Partner) or the date the ArcLight affiliates obtained control of the assets or business acquired. |
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| Consolidation policy | Consolidation policy The accompanying consolidated financial statements include accounts of American Midstream Partners, LP, and its controlled subsidiaries. All significant inter-company accounts and transactions have been eliminated in the preparation of the accompanying consolidated financial statements. |
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| Going concern assessment and management's plans | Going Concern Assessment and Management’s Plans Pursuant to FASB ASC 205-40, Presentation of Financial Statements – Going Concern (Subtopic 205-40): Disclosure of Uncertainties About an Entity's Ability to Continue as a Going Concern, we are required to assess our ability to continue as a going concern for a period of one year from the date of the issuance of these consolidated financial statements. Substantial doubt about an entity’s ability to continue as a going concern exists when relevant conditions and events, considered in the aggregate, indicate that it is probable that the entity will be unable to meet its obligations as they become due within one year from the financial statement issuance date. As discussed in Note 14. Debt Obligations, our Credit Agreement matures on September 5, 2019 and has not been renewed as of the date of the issuance of these consolidated financial statements. As discussed in Note 21. Related Party Transactions, the Board received a non-binding proposal from Magnolia, an affiliate of ArcLight to acquire the common units that it does not already own. On March 17, 2019, we entered into an Agreement and Plan of Merger (the “Merger Agreement”) with Anchor Midstream Acquisition, LLC, a Delaware limited liability company (“Proposed Parent”), Anchor Midstream Merger Sub, LLC, a Delaware limited liability company (“Proposed Merger Sub”), and High Point Infrastructure Partners, LLC, a Delaware limited liability company (“HPIP”), pursuant to which Proposed Merger Sub will merge with and into the Partnership, with the Partnership surviving as a direct wholly owned subsidiary of our General Partner and Proposed Parent (the “Pending Merger”). We expect the Pending Merger to close in the second quarter of 2019. As the Merger Agreement is subject to customary closing conditions and because the Pending Merger may affect how, or if, the Partnership elects to obtain a maturity extension, management has deferred finalization of a renewal of the Credit Agreement. While we intend to renew or extend the terms of our Credit Agreement, until such time as we have executed an agreement to refinance or extend the maturity of our Credit Agreement, we cannot conclude that it is probable we will do so, and accordingly, this raises substantial doubt about our ability to continue as a going concern. As the renewal or refinance of the Credit Agreement remains uncertain, the audited financial statements contained in this Form 10-K include a note regarding our ability to continue as a going concern. Prior to our entry into the Waiver, the existence of this going concern qualification in our audited financial statements would have constituted an event of default under the Credit Agreement. Pursuant to the Waiver, the administrative agent and certain lenders (as required by the Credit Agreement) have waived the Financial Statements Audit Requirement for the fiscal year ended December 31, 2018. Although we entered into the Waiver to address the event of default otherwise arising pursuant to the existence of a going concern note and material weakness exception in our audited financial statements contained in this Form 10-K, there is no guarantee that our lenders will agree to waive events of default or potential events of default in the future. |
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| Use of estimates | Use of estimates When preparing consolidated financial statements in conformity with U.S. GAAP, management must make estimates and assumptions based on information available at the time. These estimates and assumptions affect the reported amounts of assets, liabilities, revenues and expenses, as well as the disclosures of contingent assets and liabilities as of the date of the consolidated financial statements. Estimates and assumptions are based on information available at the time such estimates and assumptions are made. Adjustments made with respect to the use of these estimates and assumptions often relate to information not previously available. Uncertainties with respect to such estimates and assumptions are inherent in the preparation of consolidated financial statements. Estimates and assumptions are used in, among other things, i) estimating unbilled revenues, product purchases and operating and general and administrative costs, ii) developing fair value assumptions, including estimates of future cash flows and discount rates, iii) analyzing long-lived assets, goodwill and intangible assets for possible impairment, iv) estimating the useful lives of assets and v) determining amounts to accrue for contingencies, guarantees and indemnifications. Actual results, therefore, could differ materially from estimated amounts. |
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| Cash, cash equivalents and restricted cash | Cash, cash equivalents and restricted cash We consider all highly liquid investments with an original maturity of three months or less at the date of purchase to be cash equivalents. The carrying value of cash and cash equivalents approximates fair value because of the short term to maturity for these investments. From time to time we are required to maintain cash in separate accounts the use of which is restricted by the terms of our debt agreements or asset retirement obligations. Such amounts are included in Restricted cash in our Consolidated Balance Sheets. |
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| Inventory | Inventory Inventory, which is mainly comprised of crude oil, refined products and NGLs, is stated at the lower of cost or net realizable value. Cost of refined products and NGLs inventory is determined using the first-in, first-out (FIFO) method and the cost of crude oil inventory is determined using the weighted-average method. |
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| Allowance for doubtful accounts | Allowance for doubtful accounts We establish provisions for losses on accounts receivable when we determine that we will not collect all or part of an outstanding balance. Collectability is reviewed regularly and an allowance is established or adjusted, as necessary, using the specific identification method. |
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| Derivative financial instruments | Derivative financial instruments Our net income (loss) and cash flows are subject to volatility stemming from changes in interest rates on our variable rate debt, commodity prices and fractionation margins (the relative difference between the price we receive from NGL sales and the corresponding cost of natural gas purchases). In an effort to manage the risks to unitholders, we may use a variety of derivative financial instruments such as swaps, collars, interest rate caps or forward contracts to create offsetting positions to specific commodity or interest rate exposures. We record all derivative financial instruments in our Consolidated Balance Sheets at fair value as current and long-term assets or liabilities on a net basis by counterparty. We record changes in the fair value of our commodity derivatives in Gains (losses) on commodity derivatives, net while changes in the fair value of our interest rate swaps are included in Interest expense, net of capitalized interest in our Consolidated Statements of Operations. Our hedging program provides a control structure and governance for our hedging activities specific to identified risks and time periods, which are subject to the approval and monitoring by the board of directors of our General Partner ("the Board"). We employ derivative financial instruments in connection with an underlying asset, liability or anticipated transaction, and we do not use derivative financial instruments for speculative or trading purposes. The price assumptions we use to value our derivative financial instruments can affect our net income (loss) each period. We use published market price information where available, or quotations from over-the-counter, market makers to find executable bids and offers. The valuations also reflect the potential impact of related conditions, including credit risk of our counterparties. The amounts reported in our consolidated financial statements change quarterly as these valuations are revised to reflect actual results, changes in market conditions or other factors, many of which are beyond our control. We are also a party to a number of contracts that have elements of a derivative instrument. These contracts are primarily forward purchase and sales contracts with counterparties. Although many of these contracts have the requisite elements of a derivative instrument, these contracts qualify for the normal purchase and normal sales exception because they provide for the delivery of products or services in quantities that are expected to be used in the normal course of operating our business and the price in the contract is directly associated with the price of the product or service being purchased or sold. As a result, these contracts are not recorded in our consolidated financial statements until they are settled. |
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| Fair value measurements | Fair value measurements We apply the authoritative accounting provisions for measuring the fair value of our derivative financial instruments and disclosures associated with our outstanding indebtedness. We define fair value as an exit price representing the expected amount we would receive when selling an asset or pay to transfer a liability in an orderly transaction with market participants at the measurement date. We use various assumptions and methods in estimating the fair values of our financial instruments. The carrying value of all non-derivative financial instruments included in current assets (including cash, cash equivalents, restricted cash and accounts receivable) and current liabilities (including accounts payable but excluding short-term debt) approximates the applicable fair value due to the short maturity of those instruments. We employ a hierarchy which prioritizes the inputs we use to measure recurring fair value into three distinct categories based upon whether such inputs are observable in active markets or unobservable. We classify assets and liabilities in their entirety based on the lowest level of input that is significant to their fair value measurement. Our methodology for categorizing assets and liabilities that are measured at fair value pursuant to this hierarchy gives the highest priority to unadjusted quoted prices in active markets and the lowest level to unobservable inputs as outlined below:
We utilize a mid-market pricing convention, or the "market approach," for valuation for assigning fair value to our derivative assets and liabilities. Our credit exposure for over-the-counter derivatives is directly tied to our counterparty and continues until the maturity or termination of the contracts. As appropriate, valuations are adjusted for various factors such as credit and liquidity considerations. |
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| Property, plant and equipment | Property, plant and equipment We capitalize expenditures related to property, plant and equipment that have a useful life greater than one year. We also capitalize expenditures that improve or extend the useful life of an asset. Maintenance and repair costs, including any planned major maintenance activities, are expensed as incurred. We record property, plant and equipment at cost and recognize depreciation expense on a straight-line basis over the related estimated useful lives of the assets which range from 3 to 40 years. Our determination of the useful lives of property, plant and equipment requires us to make various assumptions, including the supply of and demand for hydrocarbons in the markets served by our assets, normal wear and tear of the facilities and the extent and frequency of maintenance programs. We classify long-lived assets to be disposed of through sales that meet specific criteria as held for sale. We cease depreciating those assets effective on the date the asset is classified as held for sale. We record those assets at the lower of their carrying value or the estimated fair value less the cost to sell. Until the assets are disposed of, our estimate of fair value is re-determined when related events or circumstances change. |
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| Impairment of long lived Assets | Impairment of long lived assets We evaluate the recoverability of our property, plant and equipment and intangible assets with definite lives when events or circumstances indicate we may not recover the carrying amount of the assets. We continually monitor our operations, the market and business environment to identify indicators that could suggest an asset or asset group may not be recoverable. We evaluate the asset or asset group for recoverability by estimating the undiscounted future cash flows expected to be derived from their use and disposition. These cash flow estimates require us to make projections and assumptions for many years into the future for pricing, demand, competition, operating cost, contract renewals and other factors. An asset or asset group is considered impaired when the estimated undiscounted cash flows are less than the carrying amount. In that event, an impairment loss is recognized to the extent that the carrying amount of the asset or asset group exceeds its fair value as determined by quoted market prices in active markets or present value techniques. The determination of fair values using present value techniques requires us to make projections and assumptions regarding future cash flows and weighted average cost of capital. Any changes we make to these projections and assumptions could result in significant revisions to our evaluation of the recoverability of our property, plant and equipment and the recognition of an impairment loss in our consolidated statements of operations. |
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| Goodwill impairment and intangible assets | Goodwill impairment We record goodwill for the excess of the cost of an acquisition over the fair value of the net assets of the acquired business. Goodwill is reviewed for impairment at least annually, as of October 1st of each year, or more frequently if an event or change in circumstance indicates that an impairment may have occurred. We first assess qualitative factors to evaluate whether it is more likely than not that an impairment has occurred, and it is therefore necessary to perform the one-step quantitative goodwill impairment test. If the one-step quantitative goodwill impairment test indicates that the goodwill is impaired, an impairment loss is recorded, which is the difference between the carrying value of the reporting unit to its fair value, with the impairment loss not to exceed the amount of goodwill recorded. When performing a quantitative impairment test, we generally determine the fair value of our reporting units ("RU") using a discounted cash flow method. In the event we enter into an agreement to sell all or substantially all of an RU, we will utilize such information. While using the discounted cash flow method, we must make estimates of projected cash flows related to assets, which include, but are not limited to, assumptions about revenue growth rates, operating margins, weighted average costs of capital and future market conditions, the use or disposition of assets, estimated remaining life of assets and future expenditures necessary to maintain current operations. We also must make certain estimates and assumptions, including, among other things, changes in general economic conditions in regions in which our markets are located, the availability and prices of energy commodities (such as natural gas, crude oil and refined products), our ability to negotiate favorable sales agreements, the risks that natural gas exploration and production activities will not occur or be successful, our dependence on certain significant customers and producers of natural gas and competition from other companies. The fair value is estimated using the income approach based on significant inputs not observable in the market and thus represent a Level 3 measurement. Under the discounted cash flow method, we determine fair value based on estimated future cash flows and earnings before interest, income tax, depreciation and amortization (“EBITDA”) of each RU including estimates for capital expenditures, discounted to present value using the risk-adjusted industry rate, which reflects the overall level of inherent risk of an RU. Cash flow projections are derived from one-year budgeted amounts and five-year operating forecasts plus an estimate of later period cash flows, all of which are evaluated by management. Subsequent period cash flows are developed for each RU using growth rates that management believes are reasonably likely to occur. The annual budget process is typically completed near the annual goodwill impairment testing date, and management uses the most recent information for the annual impairment tests. The forecast is also subjected to a comprehensive update annually in conjunction with the annual budget process and is revised periodically to reflect new information and revised expectations. The estimates of future cash flows and EBITDA are subjective in nature and are subject to impacts from our business risks. While we believe we have made reasonable estimates and assumptions based on available information to calculate the fair value, if future results are not consistent with our estimates, changes in fair value estimates could result in additional impairments in future periods that could be material to our results of operations. Intangible assets We record the estimated fair value of acquired customer contracts, relationships and dedicated acreage agreements as intangible assets. These intangible assets have definite lives and are subject to amortization on a straight-line basis over their economic lives, currently ranging between 5 and 30 years. We assess intangible assets for impairment together with related underlying long-lived assets whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. |
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| Investment in unconsolidated affiliates | Investment in unconsolidated affiliates We hold membership interests in entities that own and operate natural gas pipeline systems and NGL and crude oil pipelines in and around Louisiana, Alabama, Mississippi and the Gulf of Mexico. While we have significant influence over these entities, we do not control them and therefore, they are accounted for using the equity method and are reported in Investment in unconsolidated affiliates in our Consolidated Balance Sheets. We evaluate the recoverability of these investments on a regular basis and recognize impairment write downs if we determine a loss in value represents an other-than-temporary-decline. The unconsolidated affiliates that were determined to be variable interest entities (“VIE”) due to disproportionate economic interests and decision making rights were further evaluated under the VIE method of consolidation. In each case, we lack the power to direct the activities that most significantly impact the unconsolidated affiliate’s economic performance. Therefore, as we do not hold a controlling financial interest in these affiliates, we account for our related investments using the equity method. In each case, we are not obligated to absorb losses greater than our proportional ownership percentages. We have joint venture arrangements in which we and our partners share proportional ownership and responsibilities and receive returns in accordance with our ownership percentage. |
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| Deferred financing costs | Deferred financing costs Costs incurred in connection with our revolving credit facilities are deferred and charged to interest expense over the term of the related credit agreement. Such amounts are included in Other assets, net in our Consolidated Balance Sheets. Costs incurred in connection with our long-term debt such as the 8.50% Senior Notes and 3.77% Senior Notes are also deferred and charged to interest expense over the respective term of the agreements; however, these amounts are reflected as a reduction of the related obligation. Gains or losses on debt repurchases or extinguishment include any associated unamortized deferred financing costs. |
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| Asset retirement obligations | Asset retirement obligations Asset retirement obligations ("ARO") are legal obligations associated with the retirement of tangible long-lived assets that result from the asset's acquisition, construction, development and operation. An ARO is initially measured at its estimated fair value. Upon initial recognition, we also record an increase to the carrying amount of the related long-lived asset. We depreciate the asset using the straight-line method over the period during which it is expected to provide benefits. After initial recognition, we revise the ARO to reflect the passage of time and for changes in the estimated amount or timing of cash flows. We have legal obligations requiring us to decommission our offshore pipeline systems at retirement. In certain rate jurisdictions, we are permitted to include annual charges for removal costs in the regulated cost of service rates we charge our customers. Additionally, legal obligations exist for certain of our onshore right-of-way agreements due to requirements or landowner options to compel us to remove the pipe at final abandonment. Sufficient data exists with certain onshore pipeline systems to reasonably estimate the cost of abandoning or retiring a pipeline system. However, in some cases, there is insufficient information to reasonably determine the timing and/or method of settlement for purposes of estimating the fair value of the ARO. In these cases, the ARO cost is considered indeterminate because there is no data or information that can be derived from past practice, industry practice, management's experience or the asset's estimated economic life. The useful lives of most pipeline systems are primarily derived from available supply resources and ultimate consumption of those resources by end users. Variables can affect the remaining lives of the assets which preclude us from making a reasonable estimate of the ARO. Indeterminate ARO costs will be recognized in the period in which sufficient information exists to reasonably estimate potential settlement dates and methods. |
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| Commitments, contingencies and environmental liabilities | Commitments, contingencies and environmental liabilities We expense or capitalize, as appropriate, expenditures for ongoing compliance with environmental regulations that relate to past or current operations. We expense amounts we incur from the remediation of existing environmental contamination caused by past operations that do not benefit future periods by preventing or eliminating future contamination. We record liabilities for environmental matters when assessments indicate that remediation efforts are probable and the costs can be reasonably estimated. Estimates of environmental liabilities are based on currently available facts, existing technology and presently enacted laws and regulation taking into consideration the likely effects of inflation and other factors. These amounts also take into account our prior experience in remediating contaminated sites, other companies' clean-up experience and data released by government organizations. Our estimates are subject to revision in future periods based on actual cost or new information. We evaluate recoveries from insurance coverage separately from the liability and, when recovery is probable, we record an asset separately from the associated liability in our consolidated financial statements. We recognize liabilities for other commitments and contingencies when, after fully analyzing the available information, we determine it is probable that a liability has been incurred and the amount of loss can be reasonably estimated. When a range of probable loss can be estimated, we accrue the most likely amount, or if no amount is more likely than another, we accrue the minimum of the range of probable loss. We expense legal costs associated with loss contingencies as such costs are incurred. |
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| Noncontrolling interests | Noncontrolling interests Noncontrolling interests represent the minority interest holders' proportionate share of the equity in certain of our consolidated subsidiaries and are adjusted for the minority interest holders' proportionate share of the subsidiaries' earnings or losses each period. |
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| Revenue recognition | Revenue recognition Our revenue is derived from the provision of gathering, processing, transportation, terminalling and storage services and the sale of commodities primarily to marketers and brokers, refiners and chemical manufacturers, utilities and power generation customers, industrial users and local distribution companies. Services revenue also includes revenues generated through operating lease arrangements. Beginning on January 1, 2018, we account for revenue from contracts with customers in accordance with Topic 606. The unit of account in Topic 606 is a performance obligation, which is a promise in a contract to transfer to a customer either a distinct good or service (or bundle of goods or services) or a series of distinct goods or services provided at a point in time or over a period of time. Topic 606 requires that a contract’s transaction price, which is the amount of consideration to which an entity expects to be entitled in exchange for transferring promised goods or services to a customer, is to be allocated to each performance obligation in the contract based on relative standalone selling prices and recognized as revenue when (point in time) or as (over time) the performance obligation is satisfied. See Note 2. Recent Accounting Pronouncements, for further discussion regarding our January 1, 2018 implementation of the new Revenue Recognition guidance. Cost of sales Cost of sales represent the cost of commodities purchased for resale or obtained in connection with certain of our customer revenue arrangements. These costs do not include an allocation of depreciation expense or direct operating costs. |
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| Corporate expenses | Corporate expenses Corporate expenses include compensation costs for executives and administrative personnel, professional service fees, rent expense and other general and administrative expenses and are recognized as incurred. |
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| Operational balancing agreements and natural gas imbalances | Operational balancing agreements and natural gas imbalances To facilitate deliveries of natural gas and provide for operational flexibility, we have operational balancing agreements in place with other interconnecting pipelines. These agreements ensure that the volume of natural gas a shipper schedules for transportation between two interconnecting pipelines equals the volume actually delivered. If natural gas moves between pipelines in volumes that are more or less than the volumes the shipper previously scheduled, a natural gas imbalance is created. The imbalances are settled through periodic cash payments or repaid in-kind through future receipt or delivery of natural gas. Natural gas imbalances are recorded in Other current assets or Accrued expenses and other current liabilities in our Consolidated Balance Sheets at cost which approximates fair value. |
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| Equity-based compensation | Equity-based compensation We award equity-based compensation to management, non-management employees and directors under our long-term incentive plans, which provide for the issuance of options, unit appreciation rights, restricted units, phantom units, other unit-based awards, unit awards or replacement awards, as well as tandem Distribution Equivalent Rights ("DERs"). Compensation expense is measured by the fair value of the award at the date of grant as determined by management. Compensation expense is recognized in Corporate expenses and Direct operating expenses in our Consolidated Statements of Operations over the requisite service period of each award. |
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| Income taxes | Income taxes The Partnership is not a taxable entity for U.S. federal income tax purposes or for the majority of states that impose an income tax. Taxes on our net income are generally borne by our unitholders through the allocation of taxable income. Prior to the disposition of Marine Products in July 2018 (as discussed in Note 5. Dispositions), we owned American Midstream Blackwater, LLC, which owned a subsidiary that had operations which were subject to both U.S. federal and state income taxes. We accounted for income taxes of that subsidiary using the asset and liability approach. If it was more than likely that a deferred tax asset would not be realized, a valuation allowance was recognized. Margin tax expense results from the enactment of laws by the state of Texas that apply to entities organized as partnerships and is included in Income tax expense in our Consolidated Statements of Operations. The Texas margin tax is computed on the portion of our taxable margin which is apportioned to Texas. Net income (loss) for financial statement purposes may differ significantly from taxable income (loss) allocable to unitholders as a result of differences between the financial reporting and income tax bases of our assets and liabilities and the taxable income allocation requirement under our Partnership Agreement. The aggregate difference in the basis of our net assets for financial and tax reporting purposes cannot be readily determined because information regarding each partner's tax attributes in us is not available. |
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| Accumulated other comprehensive income (loss) | Accumulated other comprehensive income (loss) Accumulated other comprehensive income (loss) is comprised solely of adjustments related to the Partnership's postretirement benefit plan. |
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| Limited partners' net income (loss) per unit | Limited partners' net income (loss) per unit We compute earnings per unit using the two-class method. The two-class method requires that securities which meet the definition of a participating security should be considered in the computation of basic earnings per unit. Under the two-class method, earnings per unit is calculated as if all of the earnings for the period were distributed under the terms of the Partnership Agreement, regardless of whether the General Partner has discretion over the amount of distributions to be made in any particular period, whether those earnings would actually be distributed during a particular period from an economic or practical perspective or whether the General Partner has other legal or contractual limitations on its ability to pay distributions that would prevent it from distributing all of the earnings for a particular period. The two-class method does not impact our overall net income or other financial results; we make distributions on the basis of available cash and not earnings. However, if a distribution exceeds the Minimum Quarterly Distribution it will have the impact of reducing net income per limited partner unit. This result occurs as a larger portion of the excess would be allocated to the incentive distribution rights of the General Partner. In periods in which our aggregate net income does not exceed our aggregate distributions for such period, the two-class method does not have any impact on our calculation of earnings per limited partner unit. As our preferred units participate in distributions to our common unitholders, in periods in which our aggregate net income exceeds our aggregate distributions for such period, the two-class method will have the impact of reducing net income per limited partner unit. |
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| New accounting pronouncements | New Accounting Pronouncements Standards Adopted in 2018 Revenue from Contracts with Customers (Topic 606) - In May 2014, the Financial Accounting Standards Board (the “FASB”) issued a new standard related to revenue recognition which supersedes most of the existing revenue recognition requirements in GAAP and requires entities to recognize revenue at an amount that reflects the consideration to which an entity expects to be entitled in exchange for transferring goods or services to a customer. It also requires significantly expanded disclosures regarding the qualitative and quantitative information of an entity’s nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. The FASB has issued several amendments to the standard since its issuance, including clarification on accounting for licenses of intellectual property, identifying performance obligations, reporting gross versus net revenue and narrow-scope revisions and practical expedients. We adopted the new standard on January 1, 2018 (the “initial application” date):
Our revenue is derived from the provision of gathering, processing, transportation, terminalling and storage services and the sale of commodities primarily to marketers and brokers, refiners and chemical manufacturers, utilities and power generation customers, industrial users and local distribution companies. Beginning on January 1, 2018, we account for revenue from contracts with customers in accordance with Topic 606. The unit of account in Topic 606 is a performance obligation, which is a promise in a contract to transfer to a customer either a distinct good or service (or bundle of goods or services) or a series of distinct goods or services provided at a point in time or over a period of time. Topic 606 requires that a contract’s transaction price, which is the amount of consideration to which an entity expects to be entitled in exchange for transferring promised goods or services to a customer, is to be allocated to each performance obligation in the contract based on relative standalone selling prices and recognized as revenue when (point in time) or as (over time) the performance obligation is satisfied. Commodity Sales - For the majority of our commodity sales contracts: (i) each unit of product is a separate performance obligation, since our promise is to sell multiple distinct units of product at a point in time, (ii) the transaction price principally consists of variable consideration, which is determinable on commodity index prices for the volume of the product sold to the customer that month and (iii) the transaction price is allocated to each performance obligation based on the product’s standalone selling price. Revenues from sales of commodities are recognized at the point in time when control of the commodity transfers to the customer, which generally occurs upon delivery of the product to the customer or its designee. Payment is generally received from the customer in the month following delivery. Contracts with customers have varying terms, including spot sales, month-to-month contracts and multi-year agreements. In our Liquid Pipelines and Services segment, we enter into purchase and sale contracts as well as buy/sell contracts with counterparties, under which we gather and transport different types of crude oil and eventually sell the crude oil to either the same counterparty or different counterparties. For each of these arrangements, the Partnership assesses if control of the underlying commodity volumes transfers to the Partnership. Generally, the Partnership is unable to direct the use of the commodity volumes it purchases from the supplier because the Partnership is contractually required to redeliver an equivalent volume of the commodity back to the supplier or to a specified customer, therefore these arrangements are recorded on a net basis. Occasionally, we enter into crude oil inventory exchange arrangements with the same counterparty where the purchase and sale of inventory are considered in contemplation of each other. These types of arrangements are accounted for as inventory exchanges and are recorded on a net basis. Services - The Partnership provides gathering, processing, transportation, terminalling and storage services pursuant to a variety of contracts. Generally, for the majority of these contracts: (i) our promise is to transfer (or stand ready to transfer) a series of distinct integrated services over a period of time, which is a single performance obligation and (ii) the transaction price includes fixed or variable consideration, or both fixed and variable consideration. The amount of consideration is determinable at contract inception or at each month’s end based on our right to invoice at month end for the value of services provided to the customer in that month. Revenue is recognized over the service period specified in the contract as the services are rendered using a time-based (passage of time) or units-based (units of service transferred) method for measuring provision of the services. Progress towards satisfying our performance obligation is based on the firm or interruptible nature of the promised service and the terms and conditions of the contract (such as contracts with or without makeup rights). Payment is generally received from the customer in the month of service or the month following the service. Contracts with customers generally are a combination of month-to-month and multi-year agreements. Firm Services - Firm services are services that are promised to be available to the customer at all times during the term of the contract with limited exceptions. These agreements require customers to deliver, transport or throughput a minimum volume over an agreed upon period. Substantially all of such agreements are entered into with customers to economically support the return on our capital expenditure necessary to construct the related asset. Our firm service contracts are typically structured with take-or-pay or minimum volume provisions, which specify minimum service quantities a customer will pay for even if it chooses not to receive or use them in the specified service period (referred to as “deficiency quantities”). Under firm service contracts, we record a receivable from the customer in the period that services are provided or when the transaction occurs, including amounts for deficiency quantities from customers associated with minimum volume commitments. If a customer has a make-up right associated with a deficiency, we defer the revenue attributable to the counterparty’s make-up right and subsequently recognize the revenue at the earlier of when the deficiency volume is delivered or shipped, when the make-up right expires or when it is determined that the customer’s ability to utilize the make-up right is remote. Interruptible Services - Interruptible services are services provided to the extent that we have available capacity. Generally, we do not have an obligation to perform these services until we accept a customer’s periodic request for service. For the majority of these contracts, the customer will pay only for the actual quantities of services it chooses to receive or use and we typically recognize the transaction price as revenue as those units of service are transferred to the customer in the specified service period. Gathering and Processing - Our Gas Gathering and Processing Services segment provides “wellhead-to-market” services to producers of natural gas and NGLs, which include transporting raw natural gas from various receipt points through gathering systems, treating the raw natural gas, processing raw natural gas to separate the NGLs from the natural gas, fractionating NGLs and selling or delivering pipeline-quality natural gas and NGLs to various markets and pipeline systems. Services can be firm if subject to a minimum volume commitment or acreage dedication or interruptible when offered on an as requested, non-guaranteed basis. Revenue for fee-based gathering and processing services is valued based on the rate in effect for the month of service and is recognized in the month of service based on the volumes of natural gas we gather, process and fractionate. Under these arrangements, we may take control of: (i) none of the commodities we sell (i.e., residue gas or NGLs), (ii) a portion of the commodities we sell or (iii) all of the commodities we sell. In those instances where we purchase and obtain control of the entire natural gas stream in our producer arrangements, we have determined these are contracts with suppliers rather than contracts with customers and therefore, these arrangements are not included in the scope of Topic 606. These supplier arrangements are subject to updated guidance in Accounting Standards Codification (“ASC”) 705, Cost of Sales and Services, whereby any embedded fees within such contracts, which historically have been reported as services revenue, are now reported as a reduction to cost of sales upon adoption of Topic 606. In those instances where we remit all of the cash proceeds received from third parties for selling the extracted commodities to the producer, less the fees attributable to these arrangements, we have determined that the producer has control over these commodities. Upon adoption of Topic 606, we eliminated recording both sales revenue (natural gas and products) and cost of sales amounts and now only record fees attributable to these arrangements as service revenues. In other instances where we do not obtain control of the extracted commodities we sell, we are acting as an agent for the producer and, upon adoption of Topic 606, we have continued to recognize services revenue for the net amount of consideration we retain in exchange for our service. The Partnership may charge additional service fees to customers for a portion of the contract term (i.e., for the first year of a contract or until reaching a volume threshold) due to the significant upfront capital investment, and these fees are initially deferred and recognized to revenue over the expected period of customer benefit, generally the lesser of the expected contract term or the life of the related properties. Transportation - Our transportation operations generally consist of fee-based activities associated with transporting crude oil, natural gas and NGL on pipelines, gathering systems and trucks. Revenues from pipeline tariffs and fees are associated with the transportation at a published tariff, as well as revenues associated with agreements for committed capacity on various assets. We primarily recognize pipeline tariff and fee revenues over time based on the volumes delivered and invoiced. The majority of our pipeline tariff and fee revenues are based on actual volumes and rates. As is common in the pipeline transportation industry, our tariffs incorporate a loss allowance factor. The intent of the allowance in arrangements for the transportation of natural gas is to approximate the natural shrink that occurs when transporting gas. For crude oil transportation arrangements, loss allowance provisions are immaterial to the Partnership. In the event the Partnership retains excess natural gas and crude oil and subsequently sells the commodity to a third party, the sale is recorded at that point in time as a commodity sale. Terminalling and Storage - In our Terminalling Services segment, we generally received fee-based compensation on guaranteed firm storage contracts, throughput fees charged to our customers when their products are either received or disbursed and other operational charges associated with ancillary services provided to our customers, such as excess throughput and steam heating. Storage fees resulting from short-term and long-term contracts are typically recognized in revenue ratably over the term of the contract regardless of the actual storage capacity utilized. Substantially all of our Terminalling Services segment assets were sold in 2018, see Note 5. Dispositions for more information. Adoption of the new revenue standard resulted in changes to the timing of revenue recognition and in the reclassification between financial statement line items. See Note 3. Revenue Recognition, for further discussion. Statement of Cash Flows - In August 2016, the FASB issued Accounting Standards Update (“ASU”) No. 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments (“ASU 2016-15”). ASU 2016-15 provides specific guidance on cash flow classification issues to reduce diversity in practice. In connection with the January 1, 2018 retrospective adoption of this ASU, for the year ended December 31, 2017, we reclassified $2.8 million in distributions received from unconsolidated affiliates from operating cash inflows to investing cash inflows and reclassified $2.5 million of transaction costs associated with the disposal of our Propane Business from an investing cash outflow to an operating cash outflow in our Consolidated Statement of Cash Flows. Transaction costs for the year ended December 31, 2016 were not material. In November 2016, the FASB issued ASU No. 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash (“ASU 2016-18”), which requires amounts described as restricted cash and restricted cash equivalents to be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. A reconciliation between the balance sheet and the statement of cash flows must be disclosed when the balance sheet includes more than one line item for cash, cash equivalents, restricted cash and restricted cash equivalents. We retrospectively adopted ASU 2016-18 as of January 1, 2018. For the year ended December 31, 2017, cash flows from investing activities were adjusted to remove the impact of $298.2 million in restricted cash inflows and for December 31, 2016, cash flows from investing activities were adjusted to remove the impact of $318.5 million in restricted cash outflows. Stock Compensation - In May 2017, the FASB issued ASU No. 2017-09, Compensation - Stock Compensation (Topic 718): Scope of Modification Accounting (“ASU 2017-09”). ASU 2017-09 was issued with the intent to clarify the scope of modification accounting and when it should be applied to a change to the terms or conditions of a share-based payment award. Under the new guidance, modification accounting is required for all changes to share-based payment awards, unless all the following conditions are met: (i) there is no change to the fair value of the award, (ii) the vesting conditions have not changed and (iii) the classification of the award as an equity instrument or a debt instrument has not changed. We adopted ASU 2017-09 on its effective date of January 1, 2018, and the adoption did not have a material impact on our consolidated financial statements. Standards Not Yet Adopted Leases (Topic 842) - In February 2016, the FASB issued ASU No. 2016-02 (“Topic 842”) Leases, which supersedes the lease recognition requirements in ASC 840, Leases. Under the new guidance, for leases with a term longer than 12 months, a lessee should recognize a lease liability and a right-of-use (“ROU”) asset representing its right to use the underlying asset for the lease term. Topic 842 retains a classification distinction between finance leases and operating leases, with the classification affecting the pattern of expense recognition in the income statement. This ASU also requires enhanced disclosures. In 2018, the FASB issued ASU No. 2018-01, Land Easement Practical Expedient for Transition to Topic 842 and ASU No. 2018-11, Targeted Improvements. Under these updates, optional transition practical expedients are available (1) whereby existing or expired land easements that were not previously accounted for as leases under Topic 840 are not required to be evaluated under Topic 842 and (2) lease and associated non-lease components are not required to be separated within lessor arrangements if certain criteria are met. The FASB also issued ASUs 2018-10 and 2018-20, Codification Improvements to Topic 842 and Narrow Scope Improvements for Lessors, respectively, to alleviate unintended consequences from applying Topic 842. The amendments do not make substantive changes to the core provisions or principles of Topic 842 and are not expected to significantly impact our implementation process. We adopted the new standard on its effective date, January 1, 2019, using the modified retrospective application. We have also elected the package of practical expedients permitted under the transition guidance within Topic 842 which, among other things, allows us to carry forward the historical lease classification. As such, we did not reassess (1) whether any expired or existing contracts are or contain leases, (2) the lease classification for any expired or existing leases, and (3) any initial direct costs for any existing leases as of the effective date. We did not elect the hindsight practical expedient which permits entities to use hindsight in determining the lease term and assessing impairment of ROU assets. Additionally, we elected certain practical expedients on an ongoing basis, including the practical expedient for short-term leases pursuant to which a lessee is permitted to make an accounting policy election by class of underlying asset not to recognize a lease liability and ROU asset for leases (1) with a term of 12 months or less and (2) that do not include an option to purchase the underlying asset that the lessee is reasonably certain to exercise. Instead, we will recognize the lease payments for short-term leases within profit and loss on a straight-line basis over the lease term and variable lease payments in the period in which the obligation for those payments is incurred. We selected a third-party consulting firm to assist us with the adoption of the new guidance. We are implementing specialized software and developing policies based on reviews of existing arrangements. We intend to complete any required changes to our systems, software applications and processes, including training personnel and updating our internal controls, during the first quarter 2019. While we continue to evaluate certain aspects of Topic 842, the application will have an effect on our consolidated financial statements from a lessee perspective, with the most significant effects relating to (1) the recognition of new ROU assets and lease liabilities on our balance sheet and (2) significant new disclosures about our leasing activities. We believe substantially all leases where we are a lessee will continue to be classified as operating leases under Topic 842. We do not expect Topic 842 to have a material effect on our consolidated financial statements from a lessor perspective. On adoption, we expect to recognize additional lease liabilities ranging from $28 million to $32 million, with corresponding ROU assets of approximately the same amount. This estimate could change as the Partnership continues to finalize the implementation. Management does not expect a material impact to the Partnership’s Consolidated Statements of Operations or Cash Flows. Financial Instruments - In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (“ASU 2016-13”). This guidance will become effective for interim and annual periods beginning after December 15, 2019. We expect to adopt ASU 2016-13 on January 1, 2020, and we are currently evaluating the effect that adopting this guidance will have on our consolidated financial position, results of operations and cash flows. Fair Value Measurement - In August 2018, the FASB issued ASU No. 2018-13, Fair Value Measurements (Topic 820): Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement (“ASU 2018-13”). This guidance eliminates certain disclosure requirements for fair value measurements for all entities, requires public entities to disclose certain new information and modifies certain disclosure requirements. The FASB developed the amendments to Topic 820 as part of its broader disclosure framework project, which aims to improve the effectiveness of disclosures in the notes to consolidated financial statements by focusing on requirements that clearly communicate the most important information to users of the consolidated financial statements. This guidance will become effective for interim and annual periods beginning after December 15, 2019. We expect to adopt ASU 2018-13 on January 1, 2020, and we are currently evaluating the impact, if any, that adopting this guidance will have on our disclosures. Cloud Computing Arrangements - In August 2018, the FASB issued ASU No. 2018-15, Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement that is a Service Contract ("ASU 2018-15"). The ASU aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. The capitalized implementation costs of a hosting arrangement that is a service contract will be expensed over the term of the hosting arrangement. ASU 2018-15 is effective for annual and interim periods beginning after December 15, 2019. Early adoption is permitted, including adoption in any interim period. The amendments can be applied either retrospectively or prospectively to all implementation costs incurred after the adoption date. We expect to adopt ASU 2018-15 on January 1, 2020, and we are currently evaluating the impact, if any, that adopting this guidance will have on our accounting and disclosures. |
Revenue Recognition (Tables) |
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| Revenue from Contract with Customer [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Effect of ASC 606 Adoption on Consolidated Financial Statements | The effect of adopting Topic 606, due to the change in method to measure project progress, as discussed in Note 2. Recent Accounting Pronouncements, is as follows (in thousands):
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| Disaggregation of Revenue | The following table presents our segment revenues from contracts with customers disaggregated by type of activity (in thousands):
_______________________
The following table presents the reconciliation of our revenues from contracts with customers to segment revenues and total revenues as disclosed in our Consolidated Statement of Operations (in thousands):
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| Contract Asset and Liability Balances | The following table presents the change in the contract assets and liability balances during the year ended December 31, 2018 (in thousands):
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| Revenue Expected to be Recognized | The following table as of December 31, 2018, represents only revenue expected to be recognized from contracts where the price and quantity of the product or service are fixed (in thousands):
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Acquisitions (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2018 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Business Combinations [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Purchase Price Allocation | The following table presents the aggregated allocation of the purchase price based on estimated fair values of Panther’s assets acquired and liabilities assumed at the date of acquisition, August 8, 2017 (in thousands):
The following table presents our aggregated allocation of the purchase price based on fair values of assets and liabilities acquired at the date of acquisition, June 2, 2017 (in thousands):
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Dispositions (Tables) |
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| Discontinued Operations and Disposal Groups [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of disposal groups | Financial information for the Mid-Continent Business which is included in Income (loss) from discontinued operations, net of tax in the Consolidated Statement of Operations is summarized below (in thousands):
Consolidated Statement of Operations
Consolidated Statement of Operations
The following table summarizes other selected financial information related to the Propane Business (in thousands):
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Other Current Assets (Tables) |
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Dec. 31, 2018 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Other Current Assets [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Other Current Assets | Other current assets consist of the following (in thousands):
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Risk Management Activities (Tables) |
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| Derivative Instruments and Hedging Activities Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of notional amounts of outstanding derivative positions | The following table summarizes the net notional volume buy (sell) of our outstanding commodity-related derivatives, excluding those derivatives that qualified for the normal purchase normal sale exception as of December 31, 2018 and 2017, none of which were designated as hedges for accounting purposes.
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| Fair value of derivative contracts | The following table summarizes the fair value of our derivative contracts (before netting adjustments) included in our Consolidated Balance Sheets (in thousands):
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| Realized and unrealized gains (losses) with commodity and interest rate derivative instruments | For the years ended December 31, 2018, 2017 and 2016, the realized and unrealized gains (losses) associated with our commodity, interest rate and weather derivative instruments were recorded in our Consolidated Statements of Operations, as follows (in thousands):
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Property, Plant and Equipment, Net (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2018 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Property, Plant and Equipment [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Property, plant, and equipment, net | Property, plant and equipment, net, consists of the following (in thousands, excluding useful life):
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Goodwill and Intangible Assets, Net (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2018 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Goodwill and Intangible Assets Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of goodwill | The following table presents activity in the Partnership's goodwill balance as of December 31, 2018 and 2017 (in thousands):
_______________________
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| Schedule of finite-lived intangible assets | Intangible assets, net, consist of the following (in thousands):
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| Remaining estimated amortization expense | Remaining estimated amortization expense is as follows (in thousands):
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Investment in Unconsolidated Affiliates (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2018 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Equity Method Investments and Joint Ventures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Investments in and Advances to Affiliates | The following table presents activity in the Partnership's investments in unconsolidated affiliates (in thousands):
_______________________
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| Schedule of Investments | The following table represents the basis difference by unconsolidated affiliate (in thousands):
The following tables include summarized data for the entities underlying our equity method investments (in thousands) (amounts represent 100% of investee financial information):
_______________________
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Accrued Expenses and Other Current Liabilities (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2018 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Payables and Accruals [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of accrued expenses and other current liabilities | Accrued expenses and other current liabilities consists of the following (in thousands):
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Asset Retirement Obligations (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2018 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Asset Retirement Obligation Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of reconciliation of the beginning and ending aggregate carrying amount of ARO liabilities | The following table presents activity in our AROs (in thousands):
_________________________
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Debt Obligations (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2018 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Debt Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Outstanding borrowings | The Credit Agreement includes the following financial covenants, as amended by the Amendments and defined in the Credit Agreement, which financial covenants will be tested on a quarterly basis, for the fiscal quarter then ending:
As of December 31, 2018, we were in compliance with our Credit Agreement financial covenants, including those shown below:
Our outstanding debt consists of the following as of December 31, 2018 and 2017 (in thousands):
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| Debt instrument redemption | On and after December 15, 2018, the Issuers may redeem all or a part of the 8.50% Senior Notes, at the redemption prices (expressed as percentages of principal amount) set forth below, plus accrued and unpaid interest, if redeemed during the twelve-month period beginning on December 15 of the years indicated below:
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| Schedule of Carrying Values and Estimated Fair Values of Debt Instruments | The following table presents the carrying value and estimated fair value of our debt as of December 31, 2018 and December 31, 2017. Short-term and long-term debt are recorded at amortized cost in the Consolidated Balance Sheets.
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Convertible Preferred Units (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2018 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Equity [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of preferred units | Our convertible preferred units consist of the following (in thousands):
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Partners' Capital (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2018 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Equity [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule for number of units outstanding | The following table presents unit activity (in thousands):
_______________________
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| Distributions Made to Limited Partner, by Distribution | During the years ended December 31, 2018, 2017 and 2016, we made the following distributions (in thousands):
_______________________
The following table reflects distributions declared and paid through December 31, 2018 (in thousands, except per unit data):
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Net Loss per Limited Partner Unit (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2018 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Earnings Per Share [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of earnings per share | The calculation of basic and diluted limited partners' net loss per common unit is summarized below (in thousands, except per unit amounts):
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Incentive Compensation (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2018 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of restricted stock and restricted stock units activity | The following table summarizes activity in our phantom unit-based awards for the years ended December 31, 2018, 2017 and 2016 (in thousands, except per unit data):
_______________________
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| Fair Value Valuation Assumptions | The Black-Scholes pricing model was used to determine the fair value of our option grants using the following assumptions:
A Monte-Carlo pricing model was used to determine the fair value of our grants using the following assumptions:
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| Options, grants in period, weighted average grant date fair value | The following table summarizes our option activity for the years ended December 31, 2018 and 2017:
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| Defined benefit plan contributions and recognized expense | The following table summarizes information regarding contributions and the expense recognized for the matching contributions, which is included in operating and maintenance expense and general and administrative expense in our statements of operations (in thousands):
Cash Retention Plan On September 2, 2018, the Partnership implemented a long-term cash retention award for all employees holding RSU’s under the Partnership’s LTIP. At each future vesting date of time-based unvested phantom units outstanding on July 28, a cash award in the amount of $6.00 per phantom unit will also be earned. Outstanding PSU’s are not subject to the cash retention award. The expense associated with this award will be recognized over the service period. For the year ended December 31, 2018, approximately $3.6 million related to this plan was included in Corporate expenses in the Consolidated Statements of Operations. At December 31, 2018, remaining unamortized expense was $5.1 million. |
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| Schedule of Performance-based Awards Activity | The following table summarizes our performance-based awards activity for the years ended December 31, 2018 and 2017:
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Income Taxes (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2018 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Income Tax Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of components of income tax (expense) benefit | Income tax expense (benefit) for the years ended December 31, 2018, 2017 and 2016 is as follows (in thousands):
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| Schedule of effective income tax rate reconciliation | A reconciliation of our expected income tax expense calculated at the U.S. federal statutory rate of 21% for the year ended December 31, 2018, and 34% for the years ended December 31, 2017 and 2016 to our actual tax expense is as follows (in thousands, except percentages):
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| Schedule of deferred tax assets and liabilities | The Partnership’s deferred tax assets and liabilities as of December 31, 2018 and 2017 are summarized below (in thousands):
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Commitments and Contingencies (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2018 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Commitments and Contingencies Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Future non-cancelable commitments related to certain contractual obligations | The Partnership had the following non-cancelable contractual commitments as of December 31, 2018 (in thousands):
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Supplemental Cash Flow Information (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2018 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Supplemental Cash Flow Elements [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of cash flow, supplemental disclosures | Supplemental cash flows and non-cash transactions consists of the following (in thousands):
|
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Reportable Segments (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2018 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Segment Reporting [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Segment information for the periods | The following tables set forth our segment financial information for the periods indicated (in thousands):
|
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| Reconciliation of assets from segment to consolidated | Summarized in the table below is additional information per segment (in thousands):
The following table sets forth capital expenditures for the years ended December 31, 2018 and 2017, by segment (in thousands):
___________________________
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Quarterly Financial Data (Unaudited) (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2018 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Quarterly Financial Information Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of quarterly financial information | Summarized unaudited quarterly financial data for 2018 and 2017 are as follows (in thousands, except per unit amounts):
_______________________
In addition, net (loss) from continuing operations, net of tax for the fourth quarter of 2018 has been reduced by approximately $7.8 million primarily due to an out-of-period adjustment recorded during the quarter related to an error in recording earnings in unconsolidated affiliates. This adjustment did not have a material impact to net income (loss) or segment gross margin for any period and had no impact to revenue or operating (loss) income. |
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Revenue Recognition - Effect of ASC 606 Adoption on Consolidated Balance Sheet (Details) - USD ($) $ in Thousands |
Dec. 31, 2018 |
Dec. 31, 2017 |
|---|---|---|
| New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||
| Accounts receivable, net | $ 76,632 | $ 98,132 |
| Unbilled revenue | 0 | |
| Other current assets | 27,422 | 26,386 |
| Other assets | 17,403 | 17,874 |
| Other long-term liabilities | 18,491 | $ 2,080 |
| ASU 2014-09 | Adjustments | ||
| New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||
| Accounts receivable, net | (61,182) | |
| Unbilled revenue | 61,182 | |
| Other current assets | (252) | |
| Other assets | (8,586) | |
| Other long-term liabilities | (14,431) | |
| ASU 2014-09 | Amounts Without Adoption of Topic 606 | ||
| New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||
| Accounts receivable, net | 15,450 | |
| Unbilled revenue | 61,182 | |
| Other current assets | 27,170 | |
| Other assets | 8,817 | |
| Other long-term liabilities | $ 4,060 |
Revenue Recognition - Contract Assets and Liabilities (Details) - USD ($) $ in Thousands |
12 Months Ended | |
|---|---|---|
Dec. 31, 2018 |
Dec. 31, 2018 |
|
| Change in Contract with Customer, Asset [Abstract] | ||
| Balance at December 31, 2017 | $ 0 | |
| Topic 606 implementation | 2,555 | |
| Additions | 6,283 | |
| Balances at December 31, 2018 | 8,838 | |
| Change in Contract with Customer, Liability [Abstract] | ||
| Balance at December 31, 2017 | 2,136 | |
| Topic 606 implementation | 13,257 | |
| Amounts recognized as revenue | (2,602) | |
| Additions | 2,823 | |
| Balances at December 31, 2018 | 15,614 | |
| Contract with Customer, Asset, Net [Abstract] | ||
| Current | $ 252 | |
| Non-current | 8,586 | |
| Contract with Customer, Asset, Net | 0 | 8,838 |
| Contract with Customer, Liability [Abstract] | ||
| Current | 409 | |
| Non-current | 15,205 | |
| Contract with Customer, Liability | $ 2,136 | $ 15,614 |
Acquisitions - Southcross Energy Partners, L.P. Termination Fee (Details) - USD ($) $ in Millions |
1 Months Ended | |
|---|---|---|
Aug. 31, 2018 |
Oct. 31, 2017 |
|
| Business Combinations [Abstract] | ||
| Consideration for Contribution Agreement | $ 818 | |
| Payment for termination fee | $ 17 |
Acquisitions - JP Energy Partners Merger (Details) |
Mar. 08, 2017
shares
|
Dec. 31, 2018
shares
|
Dec. 31, 2017
shares
|
Dec. 31, 2016
shares
|
|---|---|---|---|---|
| Business Acquisition [Line Items] | ||||
| General partners' interest units issued (in shares) | 981,000 | 965,000 | ||
| Investors not affiliated | ||||
| Business Acquisition [Line Items] | ||||
| Merger agreement, conversion ratio | 0.5775 | |||
| Affiliated Holders | ||||
| Business Acquisition [Line Items] | ||||
| Merger agreement, conversion ratio | 0.5225 | |||
| General Partner | ||||
| Business Acquisition [Line Items] | ||||
| General partners' interest units issued (in shares) | 20,200,000 | 16,326 | 284,886 | 143,900 |
| Affiliated Entity | General Partner | ||||
| Business Acquisition [Line Items] | ||||
| General partners' interest units issued (in shares) | 9,800,000 |
Acquisitions - Viosca Knoll Gathering System (Details) - Viosca Knoll $ in Thousands |
Jun. 02, 2017
USD ($)
|
|---|---|
| Business Acquisition [Line Items] | |
| Acquired interest (percent) | 100.00% |
| Consideration transferred | $ 32,000 |
| Property, plant and equipment | 32,286 |
| Liability | (286) |
| Total cash consideration | 32,000 |
| Pipelines and right-of-way | |
| Business Acquisition [Line Items] | |
| Property, plant and equipment | 13,433 |
| Equipment | |
| Business Acquisition [Line Items] | |
| Property, plant and equipment | $ 18,853 |
Acquisitions - Trans-Union (Details) MMBTU in Thousands, $ in Millions |
Nov. 03, 2017
USD ($)
MMBTU
|
|---|---|
| Business Acquisition [Line Items] | |
| Throughput Capacity, Energy Per Day | MMBTU | 546 |
| Trans-Union Pipeline, L.P. (“Trans-Union”) | |
| Business Acquisition [Line Items] | |
| Acquired interest (percent) | 100.00% |
| Consideration transferred | $ 49.4 |
| Cash | 16.9 |
| Non-recourse debt assumed | $ 32.5 |
| Debt instrument, interest rate (percent) | 3.97% |
Dispositions - Selected Financial Information (Details) - Propane Marketing Services - Discontinued Operations, Disposed of by Sale - USD ($) $ in Thousands |
12 Months Ended | |
|---|---|---|
Dec. 31, 2017 |
Dec. 31, 2016 |
|
| Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||
| Depreciation | $ 8,074 | $ 13,108 |
| Amortization | 1,749 | 2,828 |
| Capital expenditures | 3,143 | 6,549 |
| Impairment of goodwill | 0 | 12,802 |
| (Gain) loss on sale of assets | (55) | 2,182 |
| Unrealized (gain) loss on derivative contracts, net | $ 0 | $ (1,072) |
Dispositions - Reconciliation of Income (Loss) From Discontinued Operations (Details) - Mid-Continental - USD ($) $ in Thousands |
12 Months Ended | |
|---|---|---|
Dec. 31, 2016 |
Dec. 31, 2015 |
|
| Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items] | ||
| (Gain) loss on sale of assets | $ (12,900) | |
| Net loss from discontinued operations | $ (539) | |
Concentration of Credit Risk (Details) - Sales Revenue, Net - Customer Concentration Risk |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2018 |
Dec. 31, 2017 |
Dec. 31, 2016 |
|
| Customer A | |||
| Revenue, Major Customer | |||
| Entity-wide revenue by major customer (percent) | 27.00% | ||
| Customer B | |||
| Revenue, Major Customer | |||
| Entity-wide revenue by major customer (percent) | 19.00% | 23.00% | 21.00% |
| Customer C | |||
| Revenue, Major Customer | |||
| Entity-wide revenue by major customer (percent) | 13.00% | ||
| Customer D | |||
| Revenue, Major Customer | |||
| Entity-wide revenue by major customer (percent) | 13.00% | ||
Other Current Assets (Details) - USD ($) $ in Thousands |
Dec. 31, 2018 |
Dec. 31, 2017 |
|---|---|---|
| Other current assets | ||
| Prepaid expenses | $ 8,395 | $ 8,944 |
| Current portion of deferred debt issuance costs | 5,433 | 0 |
| Insurance receivables | 649 | 1,741 |
| Due from related parties | 16 | 4,362 |
| Other receivables | 6,975 | 5,187 |
| Risk management assets | 4,768 | 3,186 |
| Inventory | 1,186 | 2,966 |
| Total other current assets | $ 27,422 | $ 26,386 |
Risk Management Activities (Commodity Derivatives) (Details) - bbl |
12 Months Ended | |
|---|---|---|
Dec. 31, 2018 |
Dec. 31, 2017 |
|
| Crude oil | Commodity Contract | ||
| Derivative [Line Items] | ||
| Derivative notional volume | 208,000,000 | 0 |
Risk Management Activities (Details Textual) - USD ($) $ in Thousands |
3 Months Ended | 12 Months Ended | |||
|---|---|---|---|---|---|
Jun. 30, 2018 |
Jun. 30, 2017 |
Dec. 31, 2018 |
Dec. 31, 2017 |
Dec. 31, 2016 |
|
| Derivative [Line Items] | |||||
| Amortization of Weather Derivative Premium | $ 1,045 | $ 1,030 | $ 966 | ||
| Interest rate swap | |||||
| Derivative [Line Items] | |||||
| Notional Amount | 550,000 | 550,000 | |||
| Weather Contract | |||||
| Derivative [Line Items] | |||||
| Derivative instruments not designated as hedging instruments, potential cash proceeds from Contract | $ 20,000 | $ 30,000 | |||
| Payments of derivative issuance costs | $ 1,000 | 1,100 | |||
| Term of Contract | 1 year | ||||
| Amortization of Weather Derivative Premium | $ 500 | $ 500 | |||
Risk Management Activities (Fair Value of Commodity Derivatives) (Details) - USD ($) $ in Thousands |
Dec. 31, 2018 |
Dec. 31, 2017 |
|---|---|---|
| Derivative [Line Items] | ||
| Derivative asset, gross derivative asset | $ 10,785 | $ 11,993 |
| Derivative liability, gross derivative liabilities | (2) | 0 |
| Commodity derivative instruments, net | Accrued expenses and other current liabilities | ||
| Derivative [Line Items] | ||
| Derivative asset, gross derivative asset | 0 | 0 |
| Derivative liability, gross derivative liabilities | (2) | 0 |
| Interest rate swap | Other current assets | ||
| Derivative [Line Items] | ||
| Derivative asset, gross derivative asset | 4,314 | 2,677 |
| Derivative liability, gross derivative liabilities | 0 | 0 |
| Interest rate swap | Other assets, net | ||
| Derivative [Line Items] | ||
| Derivative asset, gross derivative asset | 6,017 | 8,807 |
| Derivative liability, gross derivative liabilities | 0 | 0 |
| Weather Contract | Other current assets | ||
| Derivative [Line Items] | ||
| Derivative asset, gross derivative asset | 454 | 509 |
| Derivative liability, gross derivative liabilities | $ 0 | $ 0 |
Goodwill and Intangible Assets, Net - Schedule of Goodwill Activity (Details) - USD ($) |
3 Months Ended | 12 Months Ended | |||
|---|---|---|---|---|---|
Dec. 31, 2017 |
Dec. 31, 2016 |
Dec. 31, 2018 |
Dec. 31, 2017 |
Dec. 31, 2016 |
|
| Goodwill [Roll Forward] | |||||
| Goodwill, gross | $ 206,827,000 | ||||
| Accumulated impairment losses | (77,961,000) | ||||
| Goodwill beginning balance | 128,866,000 | $ 202,135,000 | |||
| Transfers | 0 | ||||
| Sale of assets | (77,425,000) | ||||
| Additions | 282,000 | 4,692,000 | |||
| Impairment charges | $ (78,000,000) | 0 | (77,961,000) | $ (2,654,000) | |
| Goodwill ending balance | 128,866,000 | $ 202,135,000 | 51,723,000 | 128,866,000 | 202,135,000 |
| Accumulated impairment losses | (77,961,000) | (77,961,000) | (77,961,000) | ||
| Goodwill, gross | 206,827,000 | 129,684,000 | 206,827,000 | ||
| Liquid Pipelines and Services | |||||
| Goodwill [Roll Forward] | |||||
| Goodwill, gross | 124,710,000 | ||||
| Accumulated impairment losses | (77,961,000) | ||||
| Goodwill beginning balance | 46,749,000 | 113,669,000 | |||
| Transfers | 11,041,000 | ||||
| Sale of assets | 0 | ||||
| Additions | 0 | 0 | |||
| Impairment charges | (2,700,000) | 0 | (77,961,000) | ||
| Goodwill ending balance | 46,749,000 | 113,669,000 | 46,749,000 | 46,749,000 | 113,669,000 |
| Accumulated impairment losses | (77,961,000) | (77,961,000) | (77,961,000) | ||
| Goodwill, gross | 124,710,000 | 124,710,000 | 124,710,000 | ||
| Offshore Pipelines and Services | |||||
| Goodwill [Roll Forward] | |||||
| Goodwill, gross | 4,692,000 | ||||
| Accumulated impairment losses | 0 | ||||
| Goodwill beginning balance | 4,692,000 | 0 | |||
| Transfers | 0 | ||||
| Sale of assets | 0 | ||||
| Additions | 282,000 | 4,692,000 | |||
| Impairment charges | 0 | 0 | |||
| Goodwill ending balance | 4,692,000 | 0 | 4,974,000 | 4,692,000 | 0 |
| Accumulated impairment losses | 0 | 0 | 0 | ||
| Goodwill, gross | 4,692,000 | 4,974,000 | 4,692,000 | ||
| Terminalling Services | |||||
| Goodwill [Roll Forward] | |||||
| Goodwill, gross | 77,425,000 | ||||
| Accumulated impairment losses | 0 | ||||
| Goodwill beginning balance | 77,425,000 | 88,466,000 | |||
| Transfers | (11,041,000) | ||||
| Sale of assets | (77,425,000) | ||||
| Additions | 0 | 0 | |||
| Impairment charges | 0 | 0 | |||
| Goodwill ending balance | 77,425,000 | $ 88,466,000 | 0 | 77,425,000 | $ 88,466,000 |
| Accumulated impairment losses | 0 | 0 | 0 | ||
| Goodwill, gross | $ 77,425,000 | $ 0 | $ 77,425,000 | ||
Goodwill and Intangible Assets, Net - Estimated Future Amortization Expense (Details) $ in Thousands |
Dec. 31, 2018
USD ($)
|
|---|---|
| Goodwill and Intangible Assets Disclosure [Abstract] | |
| 2019 | $ 10,182 |
| 2020 | 10,182 |
| 2021 | 10,182 |
| 2022 | 9,293 |
| 2023 | 6,626 |
| Thereafter | $ 87,321 |
Investment in Unconsolidated Affiliates - Financial Information for the Partnership's Equity Investments (Balance Sheets) (Details) - USD ($) $ in Thousands |
Dec. 31, 2018 |
Dec. 31, 2017 |
|---|---|---|
| Equity Method Investments and Joint Ventures [Abstract] | ||
| Current assets | $ 96,116 | $ 80,405 |
| Non-current assets | 1,239,733 | 1,288,862 |
| Current liabilities | 14,700 | 130,904 |
| Non-current liabilities | $ 542,047 | $ 436,584 |
Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Thousands |
Dec. 31, 2018 |
Dec. 31, 2017 |
|---|---|---|
| Payables and Accruals [Abstract] | ||
| Capital expenditures | $ 10,336 | $ 10,721 |
| Accrued interest | 3,910 | 3,190 |
| Current portion of asset retirement obligation | 3,846 | 6,416 |
| Additional Blackwater acquisition consideration | 0 | 5,000 |
| Taxes payable | 27,522 | 5,263 |
| Due to related parties | 9,566 | 6,609 |
| Professional fees | 3,483 | 1,848 |
| Royalties, gas imbalance and leases payables | 4,405 | 7,905 |
| Other | 15,544 | 21,902 |
| Total accrued expenses and other current liabilities | $ 78,612 | $ 68,854 |
Debt Obligations - Covenant Ratios (Details) - Revolving Credit Facility |
Dec. 31, 2018 |
|---|---|
| Debt Instrument [Line Items] | |
| Actual interest coverage ratio | 2.12 |
| Actual consolidated total leverage ratio | 5.79 |
| Actual consolidated secured leverage ratio | 3.17 |
| December 31, 2018 | |
| Debt Instrument [Line Items] | |
| Consolidated interest coverage ratio | 1.75 |
| Consolidated total leverage ratio | 6.25 |
| Consolidated secured leverage ratio | 3.75 |
| March 31, 2019 | |
| Debt Instrument [Line Items] | |
| Consolidated interest coverage ratio | 1.75 |
| Consolidated total leverage ratio | 6.50 |
| Consolidated secured leverage ratio | 3.75 |
| June 30, 2019 and thereafter | |
| Debt Instrument [Line Items] | |
| Consolidated interest coverage ratio | 1.50 |
| Consolidated total leverage ratio | 5.75 |
| Consolidated secured leverage ratio | 3.50 |
Debt Obligations - Redemption Price (Details) - Senior Notes - 8.50% Senior Notes, due 2021 |
12 Months Ended | 24 Months Ended |
|---|---|---|
Dec. 31, 2018 |
Dec. 14, 2018 |
|
| Debt Instrument [Line Items] | ||
| Debt instrument, redemption price, percentage | 108.50% | |
| 2018 | ||
| Debt Instrument [Line Items] | ||
| Debt instrument, redemption price, percentage | 104.25% | |
| 2019 | ||
| Debt Instrument [Line Items] | ||
| Debt instrument, redemption price, percentage | 102.125% | |
| 2020 and thereafter | ||
| Debt Instrument [Line Items] | ||
| Debt instrument, redemption price, percentage | 100.00% |
Debt Obligations - 3.77% Senior Notes (Details) |
Sep. 30, 2016
USD ($)
|
Dec. 31, 2018
USD ($)
|
Dec. 31, 2017
USD ($)
|
Dec. 28, 2016
USD ($)
|
|---|---|---|---|---|
| Debt Instrument [Line Items] | ||||
| Debt issuance costs | $ 6,000,000 | |||
| Senior Notes | 3.77% Senior Notes, due 2031 | ||||
| Debt Instrument [Line Items] | ||||
| Debt instrument | $ 60,000,000.0 | |||
| Debt instrument, interest rate (percent) | 3.77% | 3.77% | 3.77% | |
| Repayments, average quarterly principal payment | $ 1,100,000 | |||
| Proceeds from debt | 57,700,000 | |||
| Debt issuance costs | $ 2,300,000 | |||
| Restricted cash and investments | $ 23,400,000 | $ 14,900,000 | ||
| Interest coverage ratio | 1.20 |
Debt Obligations - 3.97% Trans-Union Notes (Details) - USD ($) |
May 10, 2016 |
Dec. 31, 2018 |
Dec. 31, 2017 |
Dec. 28, 2016 |
|---|---|---|---|---|
| Debt Instrument [Line Items] | ||||
| Debt Issuance Costs, Gross | $ 6,000,000 | |||
| Senior Notes | 3.97% Trans-Union Secured Senior Notes | ||||
| Debt Instrument [Line Items] | ||||
| Debt instrument | $ 35,000,000.0 | |||
| Debt instrument, interest rate (percent) | 3.97% | 3.97% | 3.97% | |
| Repayments, average quarterly principal payment | $ 500,000 | |||
| Proceeds from Issuance of Debt | 34,600,000 | |||
| Debt Issuance Costs, Gross | $ 400,000 | |||
| Restricted cash and investments | $ 6,800,000 | $ 1,700,000 |
Convertible Preferred Units - Series A-2 Convertible Preferred Units (Details) $ / shares in Units, $ in Thousands |
12 Months Ended | |||
|---|---|---|---|---|
|
Jul. 27, 2015
USD ($)
$ / shares
|
Dec. 31, 2018
USD ($)
$ / shares
|
Dec. 31, 2017
USD ($)
|
Dec. 31, 2016
USD ($)
shares
|
|
| Class of Stock [Line Items] | ||||
| Issuance of units | $ 0 | $ 0 | $ 34,413 | |
| Series A-2 | ||||
| Class of Stock [Line Items] | ||||
| Issuance of units | $ 45,000 | |||
| Investment options, exercise price (in dollars per share) | $ / shares | $ 17.50 | $ 13.66 | ||
| Conversion ratio | 1.281 | |||
| Multiplier on number of units owned at liquidation | 17.50 | |||
| Accrued in-kind distributions | $ 1,200 | |||
| Call right defined acquisition, value | $ 100,000 | |||
| Magnolia Infrastructure Partners, LLC | Issuance of Preferred Units | Series A-2 | ||||
| Class of Stock [Line Items] | ||||
| Partners' capital account, units, sold in private placement (in shares) | shares | 2,571,430 | |||
Convertible Preferred Units - Series D (Details) - USD ($) $ / shares in Units, $ in Thousands |
12 Months Ended | |||||
|---|---|---|---|---|---|---|
Oct. 02, 2017 |
Dec. 31, 2018 |
Dec. 31, 2017 |
Dec. 31, 2016 |
Oct. 01, 2017 |
Oct. 31, 2016 |
|
| Class of Stock [Line Items] | ||||||
| Distributions | $ 80,310 | $ 116,293 | $ 112,136 | |||
| Series D | ||||||
| Class of Stock [Line Items] | ||||||
| Limited partners, units issued (in shares) | 2,333,333 | |||||
| Shares issued (in dollars per share) | $ 15.00 | |||||
| Units issued, closing fee | 1.50% | |||||
| Limited partners, units outstanding (in shares) | 0 | |||||
| Series D | ||||||
| Class of Stock [Line Items] | ||||||
| Limited partners, units outstanding (in shares) | 2,333,333 | |||||
| Cash payment to repurchase convertible preferred units | $ 37,000 | |||||
| Distributions | $ 2,500 | |||||
Partners' Capital - Textual (Details) |
12 Months Ended |
|---|---|
Dec. 31, 2018 | |
| Equity [Abstract] | |
| General partner interest | 1.30% |
| Limited partner interest | 98.70% |
Partners' Capital - Series B Units (Details) - USD ($) $ in Thousands |
12 Months Ended | ||||
|---|---|---|---|---|---|
Jan. 31, 2014 |
Dec. 31, 2018 |
Dec. 31, 2017 |
Dec. 31, 2016 |
Feb. 01, 2016 |
|
| Class of Stock [Line Items] | |||||
| Issuance of units | $ 0 | $ 0 | $ 34,413 | ||
| Series B | |||||
| Class of Stock [Line Items] | |||||
| Limited partners, units issued (in shares) | 1,168,225 | ||||
| Series B | |||||
| Class of Stock [Line Items] | |||||
| Issuance of units | $ 30,000 | ||||
| Shares issued upon conversion (in shares) | 1 | ||||
Partners' Capital - Equity Offerings (Details) - USD ($) |
12 Months Ended | |||
|---|---|---|---|---|
Dec. 31, 2018 |
Dec. 31, 2017 |
Dec. 31, 2016 |
Oct. 31, 2015 |
|
| Equity [Abstract] | ||||
| Aggregate offering price | $ 100,000,000 | |||
| Partners' capital account, units, sold in public offering (in shares) | 248,561 | |||
| Proceeds from issuance of common units, net of offering costs | $ 2,900,000 | |||
| Limited partners' offering costs | 300,000 | |||
| Authorized amount remaining | 96,800,000 | |||
| Issuance of common units, net of offering costs | $ 4,916,000 | $ 12,532,000 | $ 2,697,000 | |
Partners' Capital - General Partner Units (Details) - USD ($) $ in Millions |
12 Months Ended | |||
|---|---|---|---|---|
Dec. 31, 2018 |
Dec. 31, 2017 |
Dec. 31, 2016 |
Mar. 08, 2017 |
|
| Class of Stock [Line Items] | ||||
| General partners' capital account, period distribution amount | $ 0.1 | $ 4.0 | $ 2.0 | |
| General partners' interest units issued (in shares) | 981,000 | 965,000 | ||
| General Partner | ||||
| Class of Stock [Line Items] | ||||
| General partners' interest units issued (in shares) | 16,326 | 284,886 | 143,900 | 20,200,000 |
Incentive Compensation - Defined Contribution Plan (Details) - USD ($) |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2018 |
Dec. 31, 2017 |
Dec. 31, 2016 |
|
| Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |||
| Defined Contribution Plan, Cost | $ 2,377,000 | $ 2,047,000 | $ 1,964,000 |
| Employer matching contribution, percentage of employee's contribution matched (percent) | 100.00% | ||
| Employer matching contribution, limit on employee's eligible compensation (percent) | 6.00% | ||
| Employer matching contribution annual limit | $ 16,200 | ||
Income Tax (Expense) Benefit (Details) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2018 |
Dec. 31, 2017 |
Dec. 31, 2016 |
|
| Income Tax Disclosure [Abstract] | |||
| Current income tax expense | $ 39,697 | $ 1,317 | $ 523 |
| Deferred income tax expense (benefit) | (6,702) | (82) | 2,057 |
| Income tax expense | $ 32,995 | $ 1,235 | $ 2,580 |
| Effective income tax rate | 130.20% | (0.50%) | (6.30%) |
Income Taxes - Narrative (Details) |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2018 |
Dec. 31, 2017 |
Dec. 31, 2016 |
|
| Income Tax Disclosure [Abstract] | |||
| US Federal statutory tax rate | 21.00% | 34.00% | 34.00% |
Income Tax Expense (Details) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2018 |
Dec. 31, 2017 |
Dec. 31, 2016 |
|
| Income Tax Disclosure [Abstract] | |||
| Gain (loss) from continuing operations before income taxes | $ 25,347 | $ (261,366) | $ (41,249) |
| US Federal statutory tax rate | 21.00% | 34.00% | 34.00% |
| Federal income tax expense (benefit) at statutory rate | $ 5,323 | $ (88,864) | $ (14,025) |
| Partnership loss not subject to income tax benefit | 15,038 | 89,711 | 15,800 |
| State and local tax expense | 9,299 | 2,664 | 800 |
| Goodwill | 3,415 | 0 | 0 |
| Rate change | 0 | (2,369) | 0 |
| Other | (80) | 93 | 5 |
| Income tax expense | $ 32,995 | $ 1,235 | $ 2,580 |
Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands |
Dec. 31, 2018 |
Dec. 31, 2017 |
|---|---|---|
| Deferred tax assets: | ||
| Net operating loss carryforwards | $ 0 | $ 6,646 |
| Other | 0 | 86 |
| Total deferred tax assets | 0 | 6,732 |
| Deferred tax liabilities: | ||
| Property, plant and equipment | 1,421 | 14,855 |
| Total deferred tax liabilities | 1,421 | 14,855 |
| Deferred income tax liability, net | $ (1,421) | $ (8,123) |
Commitments and Contingencies (Details Textual) - USD ($) $ in Millions |
12 Months Ended | |||||
|---|---|---|---|---|---|---|
Oct. 23, 2018 |
Sep. 25, 2018 |
Apr. 12, 2017 |
Dec. 31, 2018 |
Dec. 31, 2017 |
Dec. 31, 2016 |
|
| Loss Contingencies [Line Items] | ||||||
| Business exit costs | $ 9.1 | |||||
| Rental expenses | $ 11.8 | $ 12.6 | $ 15.9 | |||
| the Petition | ||||||
| Loss Contingencies [Line Items] | ||||||
| Damages sought | $ 4.7 | |||||
| Payments for legal settlements | $ 2.0 | |||||
| Rainbow Energy Marketing, Inc. v. American Midstream (Alabama Intrastate), LLC | ||||||
| Loss Contingencies [Line Items] | ||||||
| Damages sought | $ 6.6 | |||||
| American Midstream (Alabama Intrastate), LLC | Rainbow Energy Marketing, Inc. v. American Midstream (Alabama Intrastate), LLC | ||||||
| Loss Contingencies [Line Items] | ||||||
| Counterclaim filed | $ 1.3 | |||||
Reportable Segments Narrative (Details) $ in Thousands |
3 Months Ended | 9 Months Ended | 12 Months Ended | |
|---|---|---|---|---|
|
Mar. 22, 2019
segments
|
Sep. 30, 2017
USD ($)
|
Dec. 31, 2018
USD ($)
segments
|
Dec. 31, 2017
USD ($)
|
|
| Revenue, Major Customer | ||||
| Number of reportable segments | segments | 5 | |||
| Capital expenditures | $ | $ 96,622 | $ 113,989 | ||
| Propane Business | ||||
| Revenue, Major Customer | ||||
| Capital expenditures | $ | $ 3,100 | |||
| After disposition of Refined Products and Marine Products and elimination of Terminally Segment | ||||
| Revenue, Major Customer | ||||
| Number of reportable segments | segments | 4 | |||
Reportable Segments (Details) - USD ($) |
3 Months Ended | 12 Months Ended | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2018 |
Sep. 30, 2018 |
Jun. 30, 2018 |
Mar. 31, 2018 |
Dec. 31, 2017 |
Sep. 30, 2017 |
Jun. 30, 2017 |
Mar. 31, 2017 |
Dec. 31, 2016 |
Dec. 31, 2018 |
Dec. 31, 2017 |
Dec. 31, 2016 |
Dec. 31, 2015 |
|
| Segment information | |||||||||||||
| Revenues | $ 803,318,000 | $ 651,554,000 | $ 590,643,000 | ||||||||||
| Loss on commodity derivatives, net | 2,036,000 | (119,000) | (1,617,000) | ||||||||||
| Total revenue | $ 176,962,000 | $ 202,346,000 | $ 220,217,000 | $ 205,829,000 | $ 163,037,000 | $ 162,290,000 | $ 162,030,000 | $ 164,078,000 | 805,354,000 | 651,435,000 | 589,026,000 | ||
| Cost of sales | 592,040,000 | 457,371,000 | 393,351,000 | ||||||||||
| Direct operating expenses | 87,677,000 | 82,256,000 | 71,544,000 | ||||||||||
| Corporate expenses | 89,706,000 | 112,058,000 | 89,438,000 | ||||||||||
| Termination fee | 17,000,000 | 0 | 0 | ||||||||||
| Depreciation, amortization and accretion | 87,171,000 | 113,271,000 | 107,029,000 | ||||||||||
| Depreciation, amortization and accretion expense | 87,171,000 | 103,448,000 | 90,882,000 | ||||||||||
| (Gain) loss on sale of assets, net | (95,118,000) | (4,063,000) | 688,000 | ||||||||||
| Impairment of long-lived assets and intangible assets | 1,610,000 | 116,609,000 | 697,000 | $ 697,000 | |||||||||
| Loss on impairment of goodwill | 78,000,000 | 0 | 77,961,000 | 2,654,000 | |||||||||
| Total operating expenses | 780,086,000 | 945,640,000 | 649,254,000 | ||||||||||
| Operating income (loss) | (21,878,000) | 67,164,000 | (7,641,000) | (12,377,000) | (223,558,000) | (20,616,000) | (25,574,000) | (24,457,000) | 25,268,000 | (294,205,000) | (60,228,000) | ||
| Interest expense | (82,410,000) | (66,465,000) | (21,433,000) | ||||||||||
| Other income, net | 560,000 | 36,254,000 | 254,000 | ||||||||||
| Earnings in unconsolidated affiliates | 81,929,000 | 63,050,000 | 40,158,000 | ||||||||||
| Income (loss) from continuing operations before income taxes | 25,347,000 | (261,366,000) | (41,249,000) | ||||||||||
| Income tax expense | (32,995,000) | (1,235,000) | (2,580,000) | ||||||||||
| Loss from continuing operations | (14,719,000) | 38,183,000 | (17,274,000) | (13,838,000) | (220,335,000) | 11,806,000 | (25,901,000) | (28,171,000) | (7,648,000) | (262,601,000) | (43,829,000) | ||
| Income (loss) from discontinued operations, including gain on sale | 1,910,000 | 44,696,000 | (1,801,000) | (710,000) | 0 | 44,095,000 | (4,715,000) | ||||||
| Net income (loss) | (7,648,000) | (218,506,000) | (48,544,000) | ||||||||||
| Net income attributable to noncontrolling interests | (33,000) | (25,000) | (13,000) | (45,000) | (1,087,000) | (621,000) | (1,462,000) | (1,303,000) | (116,000) | (4,473,000) | (2,766,000) | ||
| Net loss attributable to the Partnership | $ (14,752,000) | $ 38,158,000 | $ (17,287,000) | $ (13,883,000) | $ (219,512,000) | $ 55,881,000 | $ (29,164,000) | $ (30,184,000) | (7,764,000) | (222,979,000) | (51,310,000) | ||
| Gas Gathering and Processing Services | |||||||||||||
| Segment information | |||||||||||||
| Loss on commodity derivatives, net | 311,000 | ||||||||||||
| Total revenue | 175,908,000 | ||||||||||||
| Liquid Pipelines and Services | |||||||||||||
| Segment information | |||||||||||||
| Loss on commodity derivatives, net | 1,725,000 | ||||||||||||
| Total revenue | 452,240,000 | ||||||||||||
| Loss on impairment of goodwill | $ 2,700,000 | 0 | 77,961,000 | ||||||||||
| Natural Gas Transportation Services | |||||||||||||
| Segment information | |||||||||||||
| Loss on commodity derivatives, net | 0 | ||||||||||||
| Total revenue | 59,663,000 | ||||||||||||
| Offshore Pipelines and Services | |||||||||||||
| Segment information | |||||||||||||
| Loss on commodity derivatives, net | 0 | ||||||||||||
| Total revenue | 72,180,000 | ||||||||||||
| Loss on impairment of goodwill | 0 | 0 | |||||||||||
| Terminalling Services | |||||||||||||
| Segment information | |||||||||||||
| Loss on commodity derivatives, net | 0 | ||||||||||||
| Total revenue | 45,363,000 | ||||||||||||
| Loss on impairment of goodwill | 0 | 0 | |||||||||||
| Segment assets: | Gas Gathering and Processing Services | |||||||||||||
| Segment information | |||||||||||||
| Revenues | 175,597,000 | 150,252,000 | 120,920,000 | ||||||||||
| Loss on commodity derivatives, net | 311,000 | (340,000) | (833,000) | ||||||||||
| Total revenue | 175,908,000 | 149,912,000 | 120,087,000 | ||||||||||
| Cost of sales | 124,379,000 | 101,981,000 | 68,955,000 | ||||||||||
| Direct operating expenses | |||||||||||||
| Earnings in unconsolidated affiliates | 0 | 0 | 0 | ||||||||||
| Gross margin | 51,888,000 | 48,053,000 | 50,040,000 | ||||||||||
| Segment assets: | Liquid Pipelines and Services | |||||||||||||
| Segment information | |||||||||||||
| Revenues | 450,515,000 | 343,724,000 | 331,287,000 | ||||||||||
| Loss on commodity derivatives, net | 1,725,000 | 221,000 | (341,000) | ||||||||||
| Total revenue | 452,240,000 | 343,945,000 | 330,946,000 | ||||||||||
| Cost of sales | 423,519,000 | 309,166,000 | 288,735,000 | ||||||||||
| Direct operating expenses | |||||||||||||
| Earnings in unconsolidated affiliates | 11,954,000 | 5,226,000 | 2,070,000 | ||||||||||
| Gross margin | 40,542,000 | 39,870,000 | 44,161,000 | ||||||||||
| Segment assets: | Natural Gas Transportation Services | |||||||||||||
| Segment information | |||||||||||||
| Revenues | 59,663,000 | 47,899,000 | 40,108,000 | ||||||||||
| Loss on commodity derivatives, net | 0 | 0 | 0 | ||||||||||
| Total revenue | 59,663,000 | 47,899,000 | 40,108,000 | ||||||||||
| Cost of sales | 23,207,000 | 24,516,000 | 21,288,000 | ||||||||||
| Direct operating expenses | |||||||||||||
| Earnings in unconsolidated affiliates | 0 | 0 | 0 | ||||||||||
| Gross margin | 36,130,000 | 23,005,000 | 18,616,000 | ||||||||||
| Segment assets: | Offshore Pipelines and Services | |||||||||||||
| Segment information | |||||||||||||
| Revenues | 72,180,000 | 55,138,000 | 47,314,000 | ||||||||||
| Loss on commodity derivatives, net | 0 | 0 | (7,000) | ||||||||||
| Total revenue | 72,180,000 | 55,138,000 | 47,307,000 | ||||||||||
| Cost of sales | 8,050,000 | 8,993,000 | 3,049,000 | ||||||||||
| Direct operating expenses | |||||||||||||
| Earnings in unconsolidated affiliates | 69,975,000 | 57,824,000 | 38,088,000 | ||||||||||
| Gross margin | 134,106,000 | 103,970,000 | 82,346,000 | ||||||||||
| Segment assets: | Terminalling Services | |||||||||||||
| Segment information | |||||||||||||
| Revenues | 45,363,000 | 54,541,000 | 51,014,000 | ||||||||||
| Loss on commodity derivatives, net | 0 | 0 | (436,000) | ||||||||||
| Total revenue | 45,363,000 | 54,541,000 | 50,578,000 | ||||||||||
| Cost of sales | 12,885,000 | 12,715,000 | 11,324,000 | ||||||||||
| Direct operating expenses | 9,664,000 | 11,871,000 | 8,205,000 | ||||||||||
| Earnings in unconsolidated affiliates | 0 | 0 | 0 | ||||||||||
| Gross margin | $ 22,814,000 | $ 29,956,000 | $ 31,050,000 | ||||||||||
Reportable Segments Capital Expenditures (Details) - USD ($) $ in Thousands |
12 Months Ended | |
|---|---|---|
Dec. 31, 2018 |
Dec. 31, 2017 |
|
| Segment Reporting Information [Line Items] | ||
| Capital expenditures | $ 96,622 | $ 113,989 |
| Gas Gathering and Processing Services | ||
| Segment Reporting Information [Line Items] | ||
| Capital expenditures | 35,131 | 15,689 |
| Liquid Pipelines and Services | ||
| Segment Reporting Information [Line Items] | ||
| Capital expenditures | 18,750 | 9,313 |
| Natural Gas Transportation Services | ||
| Segment Reporting Information [Line Items] | ||
| Capital expenditures | 4,726 | 35,498 |
| Offshore Pipelines and Services | ||
| Segment Reporting Information [Line Items] | ||
| Capital expenditures | 24,939 | 38,300 |
| Terminalling Services | ||
| Segment Reporting Information [Line Items] | ||
| Capital expenditures | 6,819 | 8,443 |
| Corporate | ||
| Segment Reporting Information [Line Items] | ||
| Capital expenditures | $ 6,257 | $ 6,746 |
Quarterly Financial Data (Unaudited) (Details) - USD ($) |
3 Months Ended | 12 Months Ended | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2018 |
Sep. 30, 2018 |
Jun. 30, 2018 |
Mar. 31, 2018 |
Dec. 31, 2017 |
Sep. 30, 2017 |
Jun. 30, 2017 |
Mar. 31, 2017 |
Dec. 31, 2018 |
Dec. 31, 2017 |
Dec. 31, 2016 |
|
| Segment Reporting Information [Line Items] | |||||||||||
| Total revenue | $ 176,962,000 | $ 202,346,000 | $ 220,217,000 | $ 205,829,000 | $ 163,037,000 | $ 162,290,000 | $ 162,030,000 | $ 164,078,000 | $ 805,354,000 | $ 651,435,000 | $ 589,026,000 |
| Operating (loss) income | (21,878,000) | 67,164,000 | (7,641,000) | (12,377,000) | (223,558,000) | (20,616,000) | (25,574,000) | (24,457,000) | 25,268,000 | (294,205,000) | (60,228,000) |
| Net (loss) income from continuing operations, net of tax | (14,719,000) | 38,183,000 | (17,274,000) | (13,838,000) | (220,335,000) | 11,806,000 | (25,901,000) | (28,171,000) | (7,648,000) | (262,601,000) | (43,829,000) |
| Income (loss) from discontinued operations, including gain on sale | 1,910,000 | 44,696,000 | (1,801,000) | (710,000) | 0 | 44,095,000 | (4,715,000) | ||||
| Net income attributable to noncontrolling interests | 33,000 | 25,000 | 13,000 | 45,000 | 1,087,000 | 621,000 | 1,462,000 | 1,303,000 | 116,000 | 4,473,000 | 2,766,000 |
| Net (loss) income attributable to the Partnership | (14,752,000) | 38,158,000 | (17,287,000) | (13,883,000) | (219,512,000) | 55,881,000 | (29,164,000) | (30,184,000) | (7,764,000) | (222,979,000) | (51,310,000) |
| General Partner's Interest in net (loss) income | (199,000) | 504,000 | (225,000) | (181,000) | (2,883,000) | 697,000 | (375,000) | (420,000) | (101,000) | (2,981,000) | (233,000) |
| Limited Partners' Interest in net (loss) income | $ (14,553,000) | $ 37,654,000 | $ (17,062,000) | $ (13,702,000) | $ (216,629,000) | $ 55,184,000 | $ (28,789,000) | $ (29,764,000) | $ (7,663,000) | $ (219,998,000) | $ (51,077,000) |
| Loss from discontinued operations, basic and diluted (in dollars per share) | $ 0.03 | $ 0.86 | $ (0.03) | $ (0.01) | $ 0.00 | $ 0.85 | $ (0.09) | ||||
| Net loss, basic and diluted (in dollars per share) | $ (0.41) | $ 0.56 | $ (0.48) | $ (0.42) | $ (4.29) | $ 0.91 | $ (0.72) | $ (0.75) | $ (0.75) | $ (4.85) | $ (1.60) |
| Loss on impairment of goodwill | $ 78,000,000 | $ 0 | $ 77,961,000 | $ 2,654,000 | |||||||
| Asset impairment charges | $ 1,600,000 | 116,600,000 | $ 700,000 | ||||||||
| Property, Plant and Equipment | |||||||||||
| Segment Reporting Information [Line Items] | |||||||||||
| Asset impairment charges | 103,900,000 | ||||||||||
| Intangible Assets | |||||||||||
| Segment Reporting Information [Line Items] | |||||||||||
| Asset impairment charges | 12,700,000 | ||||||||||
| Out of Period Adjustment Related to Revenue Recognition | |||||||||||
| Segment Reporting Information [Line Items] | |||||||||||
| Total revenue | (10,000,000) | $ (13,700,000) | |||||||||
| Error in Recording Earnings from Unconsolidated Affiliates | |||||||||||
| Segment Reporting Information [Line Items] | |||||||||||
| Net (loss) income from continuing operations, net of tax | $ 7,800,000 | ||||||||||
| Overstatement on Total Revenues and Cost of Sales Due to Error in Gross vs Net Revenue Recognition | |||||||||||
| Segment Reporting Information [Line Items] | |||||||||||
| Total revenue | $ 10,000,000 | ||||||||||
Subsequent Event (Details) - Merger Agreement - Subsequent Event |
Mar. 17, 2019
$ / shares
|
|---|---|
| Subsequent Event [Line Items] | |
| Exchanges ratio per common unit (in usd per share) | $ 5.25 |
| Arclight Affiliates | |
| Subsequent Event [Line Items] | |
| Ownership interest (percent) | 51.00% |
| Label | Element | Value |
|---|---|---|
| Partners' Capital, Adjusted Balance | us-gaap_PartnersCapitalAdjustedBalance1 | $ 180,249,000 |
| Cumulative Effect of New Accounting Principle in Period of Adoption | us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption | (10,691,000) |
| Limited Partner [Member] | ||
| Partners' Capital, Adjusted Balance | us-gaap_PartnersCapitalAdjustedBalance1 | 263,151,000 |
| Cumulative Effect of New Accounting Principle in Period of Adoption | us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption | (10,552,000) |
| General Partner [Member] | ||
| Partners' Capital, Adjusted Balance | us-gaap_PartnersCapitalAdjustedBalance1 | (96,691,000) |
| Cumulative Effect of New Accounting Principle in Period of Adoption | us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption | (139,000) |
| AOCI Attributable to Parent [Member] | ||
| Partners' Capital, Adjusted Balance | us-gaap_PartnersCapitalAdjustedBalance1 | 28,000 |
| Parent [Member] | ||
| Partners' Capital, Adjusted Balance | us-gaap_PartnersCapitalAdjustedBalance1 | 166,488,000 |
| Cumulative Effect of New Accounting Principle in Period of Adoption | us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption | (10,691,000) |
| Noncontrolling Interest [Member] | ||
| Partners' Capital, Adjusted Balance | us-gaap_PartnersCapitalAdjustedBalance1 | 13,761,000 |
| Cumulative Effect of New Accounting Principle in Period of Adoption | us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption | 0 |
| Series B [Member] | ||
| Partners' Capital, Adjusted Balance | us-gaap_PartnersCapitalAdjustedBalance1 | $ 0 |